Buyers still seeking DC area investments
Reston, VA — Calkain Companies, a national real estate investment brokerage firm, has procured the sale of two triple net (NNN) lease Wendy's locations in Fairfax, VA.
Rick Fernandez, Assistant Vice President of Calkain Realty Advisors', the private market division of Calkain Companies, represented the buyer in the transaction. Fernandez commented, "The buyer reviewed many investment options but ultimately the decision to purchase these triple net (NNN) assets at a 7.75% cap rate was driven by the strong sales performance of the tenant and solid real estate fundamentals of each location." Fernandez continued, "Leveraging the assets with a supportive loan was a key component of this transaction and the availability of favorable financing is further evidence of the strength and stability of the Wash DC metro market.
The two locations are located on Jermantown Road and Fair Lakes Drive Fairfax, VA.
Rick is the Assistant Vice President of Calkain’s Realty Advisors group working with private market investors. Rick comes to Calkain from a successful career in the telecommunications industry where he received numerous sales and leadership awards. His experience included executive level leadership of and the opening of the Washington DC market for several competitive communications service providers.
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.