VA Office Asset Trades, Awaits Conversion
- Feb 20, 2018
Young Group Inc. has acquired a 79,880-square-foot vacant office building in Tysons, Va. Avison Young Principals Rob Walters, Chip Ryan, John Kevill and Jim Kornick brokered the sale.
The six-story asset spreads across 1.9 acres at 1764 Old Meadow Lane, less than one-half mile from the Silver Line-serviced McLean Metro station. Additionally, the nearby Interstate 495 and Route 123 provide easy access to Washington, D.C., which is located 12 miles west.
Following a rezoning that allows the construction of up to 225,000 square feet of office space or up to 260,000 square feet of high-rise residential, the new owner plans to convert the building into a self-storage facility. Butz-Wilbern will handle the design services.
“This building attracted multiple offers from investors and developers seeking office, multifamily or storage space in a convenient, highly visible location,” Ryan said in a prepared statement.
In a recent deal, Avison Young brokered the sale of a medical office building in Fairfax, Va.
Image courtesy of Avison Young