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FAIRFAX, VA-The Democracy Square Office Building has gotten a new owner with RG Acquisitions LLC’s recent purchase of the 60,000-sf property in an $8 million cash deal with Courthouse Office LLC. Located at 10340 Democracy Lane, the three-story brick structure is currently 92% leased to 11 tenants.

“This building fits with our strategy of purchasing well located properties in in-fill locations,” RG Acquisitions’ Glenn H. Rosenthal shares with GlobeSt.com. “Despite the vacancy in other Virginia sub-markets, the Fairfax City sub-market is very well-occupied. And based on current negotiations, we anticipate 100% occupancy by year’s end.”

Current occupants include health organization Brain Injury Services, Corsec Security Inc., and George Mason University, which signed a five-year lease in January for 6,200 sf of space for its psychological clinic. The structure had been known as Courthouse Building II until 1995 when one-time owner Atlantic Realty Properties acquired the property, renovated it, and renamed it.

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