Grubb & Ellis Co.'s Steve Gichner, Eric Berkman, Brian MacDonald and Juliana Ko orchestrated the transaction on behalf of the seller. Developed in 1985, the property has a current assessed value of $7.7 million, according to Fairfax County records.
Located along the Dulles Toll Road near Washington Dulles International Airport, Parkway One is 88% occupied, featuring such tenants as the American Society of Appraisers and the Association of Real Estate License Law Officials. The average in-place rental rate at the property is $16.69 per sf, while the average rental rate for class B office space in the Reston/Herndon submarket is Herndon is $27.10 per sf, as per Cushman & Wakefield's Third Quarter 2005 Marketbeat Snapshot.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.