Calkain Companies procures $8.7m for Pep Boys and Merchants T&A

Calkain Companies, a national real estate investment brokerage firm, has procured the sale of the Merchant's Tire and Auto and an inside the Washington, DC Beltway Pep Boys location. Rick Fernandez, Calkain Co. mid-Atlantic business development director represented the seller in the $6.397 million sale of the Pep Boys. Fernandez said, "Operating for over 36 years in Annandale, VA, this Pep Boys is a top sales performer and the corner location in the heart of the community which combined make this a very desirable asset." The seller was a national real estate holding company and was pleased to have received several strong offers for the property. The buyer, a private investor with deep roots in the local community recognized the strength of the property and was happy to add it to his portfolio. Additionally, Calkain Co. procured the sale of the Merchant's Tire and Auto. The transaction closed at a sale price of $2.4 million. The property was acquired by private investors looking to augment their family portfolio with this strong performing property in Virginia's growing market. Fernandez represented the seller and the buyer in the transaction.