CALKAIN COS. BROKERS $24.7M SALE OF CVS STORE IN METRO D.C.

TYSONS CORNER, VA. — Calkain Cos. has brokered the $24.7 million sale of a CVS/pharmacy store at 8117 Leesburg Pike in Tysons Corner, about 16 miles west of Washington, D.C. The asset sold for the lowest cap rate (4.97 percent) of any CVS/pharmacy sale in the United States, according to Calkain. Jonathan Hipp, Andrew Fallon and Jonathan Florin of Calkain represented the sellers, Regency Centers and J. Donegan Co., in the transaction. The buyer, an unnamed entity based in the Middle East, purchased the property in conjunction with The Rappaport Cos.