ARLINGTON, VA-Marymount University is taking 87,000-square feet at 4040 N. Fairfax Dr.

Federal Capital Partners and RESI Management signed the school on as a tenant after FCP, in partnership with the McMullin family, completed a significant renovation and repositioning of a ten-story, 184,213-square foot office building, which is located two blocks from the Ballston Metro station and three blocks from the Virginia Square Metro station.

Josh Peyton, Peter Berk and Dave Millard of Avison Young represented Marymount in the transaction. Rob Walters, Mike Shuler and Nate Krill, also of Avison Young, represented owner.

FCP and McMullin began the renovation work in January 2013, in response to the Base Realignment and Closure initiative and its resulting shake up of the local markets. The goal of the renovation was to make the property competitive with the new class A buildings in the Ballston submarket-while offering a discount in pricing.

The renovations, which stripped the building's interior to its shell, included a 4,000-square foot roof terrace, an enlarged main lobby and a ground floor that was rezoned for retail use.

Instant Insights /

Marymount University Takes 87K SF in Ballston

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