Million Sellers
Nnn Retail Condo For $2.6 Million
NNN Retail Condo For $2.6 million
JCR Cos. scooped up a retail condo along the vibrant retail corridor of 14th Street for $2.6 million.
The 7,338-square-foot property at 1526 14th St. NW currently houses Mitchell Gold & Bob Williams, a national high end furniture retailer and accessories showroom. The purchased condo sits on the first floor of Lofts 14, which were erected by D.C. developer Scott Pannick’s Metropolis Development Co. Mid City Development Co. was the seller of the condo, said Pannick.
The sold space formerly housed Storehouse Furniture, which went into bankruptcy and moved out a few years ago. Mitchell Gold & Bob Williams opened its first D.C. store in the site in 2007.
Rick Fernandez, assistant vice president of Calkain Realty Advisors, represented the seller. The asset was acquired with low leverage, long-term debt with Eagle Bank Corp., said JCR.
Joe Reger, managing director of JCR, was formerly vice president of acquisitions for McCaffery Interests before forming JCR last month.
The Arlington-based company is looking to scoop up retail, multi-family and office assets, all in the $2 million to $50 million range, in the D.C., San Francisco, Southeast Florida and Chicago markets.
Brian Manion, director, is focusing on the Southeast Florida market. Brad Gilchrist, formerly with Macquarie Office Trust in Sydney, joined the firm this month as vice president.
Calkain Companies, Inc. where triple net lease properties are the focus of our business. Working through the net lease investment process with our clients is the basis and foundation our firm. We are your source for investment real estate!
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www.calkain.com
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