MCLEAN, VA-Spacenet, a satellite network service company, has paid about $25 million to purchase the seven-story building it leases now at 1750 Old Meadow Road from the Ohio State Teachers Retirement Sysem.

The deal cost $184/sf for the 135,800-sf building; CB Richard Ellis represented the seller.

The company, a subsidiary of Gilat Networks of Israel, had been looking since last year for a 200,000-sf building to accommodate its growth. The market currently favors sellers and makes development expensive, however.