FALLS CHURCH, VA – Vanderbilt Properties has purchased a 284,333-square-foot office property in Falls Church, VA from an affiliate of Marcus Partners for $87.5 million.
The property, located at 3170 & 3180 Fairview Park Dr., is currently 98% leased to four tenants, with a weighted average lease term of 11 years. The office building's current tenants comprise General Dynamics Information Technology, Capital Caring Health, Sheet Metal Workers' National Pension Fund and Balfour Beatty.
Newmark Knight Frank served as the sole broker between the seller and buyer. NKF's managing director, James Cassidy, managing director, Jud Ryan and VP, Cliff Cummings, represented the seller in the transaction, and Newmark Knight Frank's vice chairman of debt and structured finance, Joe Donato and managing director, Kassi Saridakis worked with buyer on financing the acquisition.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
