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 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.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.