TYSONS CORNER, VA-West-Group Management has sold three office properties here to three separate buyers over the past five days for an aggregate of $88.5 million. The company had originally intended to sell the three properties as a package. When that didn’t work out, however, it found that selling them separately was more advantageous, Grubb & Ellis’ Eric Berkman tells GlobeSt.com. Berkman, along with associate Steve Gilcher, brokered all three sales. 

Over the past five days, the three building sales have closed; the most recent this week was at 1550 W. Branch Dr. Called the Rappahannock Building, the property was acquired by Corporate Office Property Trust for $40 million. Colony Capital acquired 8000 W. Park Dr., a 39,000-square-foot building, for $20 million. StonebridgeCarras and Walton Street Capital acquired 8000 Jones Branch Rd. for $28.5 million. 

All of the deals happened very quickly, Berkman says, with 20-day study period and three-to-five-day closes. "These are not transactions that would have gotten done in a bad market. Instead, we had buyers willing to jump through the hoops for the fast due diligence." The seller received multiple bids for the properties, he adds. 

Marketing the properties separately delivered an unexpected bonus for the seller in the form of a 15% premium, Berkman says. "These were three separate types of buyers and each building fit their investment profile. They each stretched to get the property, but probably wouldn’t have been willing to make the same stretch for all three."