Reston, VA — Calkain Companies’, a national real estate investment brokerage firm, has procured the sale of three triple net (NNN) lease investment properties including a Wendy’s in Bowie, MD, M&T Bank in Maple Lawn, MD and a CVS in Fairfax County, VA totaling almost $10 million.
Rick Fernandez, Assistant Vice President of Calkain Realty Advisors’, the private market division of Calkain Companies, led the marketing and sales for each of the transactions. Fernandez commented, “The Wash DC metro area has national appeal and the combination of strong performance by the tenants and high profile locations made these unique opportunities for the investors.” Fernandez generated multiple offers for each of the assets and ultimately completed the sale of each transaction in an obviously challenging market. Jonathan Hipp, President & CEO of Calkain Companies continued, “Rick proved that quality real estate is highly desirable, no matter what market cycle is occurring.” In each scenario, appropriate debt was placed on each asset and leveraging the properties with a supportive loan was an essential consideration for each buyer. Fernandez said,” The availability of favorable financing is testament to the strength and stability of the Wash DC metro market.”
The transactions closed within the past thirty days and are recorded in the public record.
His twenty year career in the industry spanned every aspect of communications services from communications system design and engineering to direct sales for the leading providers of communications hardware, software and voice, data and wireless services.
Rick most recently served as Nextel’s National Director of Custom Network Solutions which developed and designed campus and in-building wireless infrastructure in support of commercial and governmental applications and services carried over the Nextel network.
Rick left Nextel following the merger with Sprint and has quickly immersed himself in the details of the Net Lease investment sector of the commercial real estate market.