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WASHINGTON, DC-A CVS in the heart of Adams Morgan has traded for $14.5 million—or an eye-popping $1,154 per square foot. That is among the best retail trades in the District, Jonathan Hipp, CEO of Calkain Cos., which brokered the transaction, tells GlobeSt.com. The buyer was a 1031 exchange investor from Florida and the seller was a local group. Calkain represented both sides of the transaction, with Rick Fernandez, managing director of Calkain Urban Investment Advisors, repping the seller and Calkain managing director Jerry Burg representing the buyer.

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