FAIRFAX, VA-Carr Properties Income Trust together with an institutional investor has purchased Centerpointe I & II, a two-building Class A office property located at 4000 and 4050 Legato Road in Fairfax, Virginia, for $125.7 million. The purchase price also includes $3 million worth closing-expenditure credits for capital enhancements. Thomas Properties Group Inc. was the seller of the campus spanning 421,900 square feet.
At the time of acquisition, the average occupancy rate of the two 11-floor buildings was 92%. For the full story, go to Commercial Property Executive .
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