Fallon & Fernandez Represented Seller in Transaction
Herndon, VA – Calkain Urban Investment Advisors, the urban division of Calkain Companies, brokered the $9.2M sale of the commercial units at the Tenley Hill condominium at 4719-4731 Wisconsin Avenue, Washington, DC. Tenley Hill is a premier mixed-use, luxury Leed Certified condominium developed by PN Hoffman in 2001. Offered for sale were the 100% leased first and second floors of the building featuring six commercial condominium units of approximately 20,000 SF. The commercial units have a dedicated lobby and private 24-space parking garage. The buyers acquired the property as part of a 1031 exchange.
The Calkain Urban Investment Advisors team of Rick Fernandez, Managing Director and Andrew Fallon, Executive Managing Director were hired by PN Hoffman to bring the asset to market. Fallon commented, “Tenley Hill is a great infill urban asset, well-located in Tenleytown between two Metro stations. Based on the stable occupancy and tenant mix, we were confident it would be popular among investors.” Fernandez continued, “We followed our competitive bid process which continues to produce multiple offers and exemplary results for our clients.” Ultimately, the winning bidder and purchaser were selected based on strength of offer and probability of close.
The transaction closed within the last thirty days and is recorded in the public record.
Calkain Urban Investment Advisors has nearly $40M in urban retail and mixed use listings. Please call Rick Fernandez at 703-787-4732 or Andrew Fallon at 703-787-4733 for information on available properties.
Calkain Companies LLC is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Calkain has a national platform with multiple office locations throughout the entire East Coast. Additional information about the firm and listings may be found at calkain.com.