The complex, called Virginia Square Plaza, is a two-buildingmedical office and general office complex in the Rosslyn-BallstonCorridor.There were 61 prospective purchasers who toured the assetsand the sales team received 29 written offers, according toNorthMarq.
The price illustrates pent up demand for medical office productas well as the high level of confidence that investors have in theRB Corridor, Clinebell says in a prepared statement. NorthMarq didnot return a call to GlobeSt.com in time for publication.
The 40,769-square-foot medical office building, 3801 NorthFairfax Dr., is 96% leased. The second building--a 29,246 squarefoot property at 3803 N. Fairfax Dr.--is 100% leased to an officetenant, although it was originally developed as a medical officebuilding. The buildings were built in 1967 and 1955,respectively,and both have been renovated twice, most recently in2007. Inaddition, there are development rights for an additional43,000 square feet at the complex.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
