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WOODBRIDGE, VA-For the second time in less than a year, the 184,000-sf Worth Avenue Technology Center has hit the market and found a new buyer. San Juan Capistrano, CA’s Argus Realty Investors LP acquired the R&D/warehouse facility from Dallas-based Macfarlan Real Estate Investment Management in a $23.5 million transaction.

Located in the I-95 Corridor just 20 miles outside of Washington, DC within the Potomac Mills Mall, Worth Ave. Tech Center is a seven-year-old, class A structure. Originally, the building served as home to the Tandy Corp.’s Incredible Universe Electronics Superstore, but it is now fully leased to General Dynamics Land Systems Inc.

The breakdown of the property consists of 144,000 sf of office and R&D lab space, 40,000 sf of warehouse space. “This is an excellent example of how the conversion of a retail building can meet all the multifunctional requirements of a large employer in this market ranging from a government services business to major manufacturers with US military contracts,” says Argus Realty VP of acquisitions Jean Murphy.

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