ALEXANDRIA, VA-An office in this part of town has traded for $21 million. However, the price point was not based on current or future cash flow. Instead, the 129,564-square-foot, 89%-occupied building will be converted into condos by the buyer, EYA.

The building will soon be vacated, Jayne Shister of Cassidy Turley, tells GlobeSt.com. “Of the existing space, the federal government occupied 62,000 square feet, but the tenant has gone to Fort Mead,” says Shister, who represented the seller, an LLC, in the transaction.

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