Marcus Partners Sells DC-Area Property for $88M
- Oct 14, 2020
An affiliate of Marcus Partners has sold a 284,333-square-foot office building in Falls Church, Va., for $87.5 million. NKF brokered the transaction between the seller and Vanderbilt Properties, while also securing acquisition financing. According to the brokerage firm, this is the first DC-area property to hit the marketplace and be sold since the onset of the pandemic.
Recently, Marcus Partners completed a renovation process that included more than 25,000 square feet of amenity space. The asset features a 100-person auditorium, fitness center and cafe with outdoor terrace and fire pit. The building is 98 percent leased to General Dynamics Information Technology, Capital Caring Health, Sheet Metal Workers’ National Pension Fund and Balfour Beatty.
Located at 3170 & 3180 Fairview Park, the asset is just off Interstate 495. The property is within 11 miles of Ronald Reagan Washington National Airport and 10 miles of The Pentagon.
NKF’s team included Executive Managing Directors James Cassidy and Jud Ryan along with Vice President Cliff Cummings. Vice Chairman Joe Donato and Managing Director Kassi Saridakis arranged the acquisition financing. In February, Cassidy and Ryan arranged the $46.5 million sale of two office structures encompassing a total of approximately 204,100 square feet in Ashburn, Va.