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FAIRFAX, VA-In a transaction involving nearly $36 million, ownership of the 191,000-sf office building known as Crown Ridge at Fair Oaks has changed hands. Acting on behalf of an investor, Newport Beach, CA-based KBS Realty Advisors acquired the property from Fairfax, VA’s-headquartered the Peterson Cos. The Fairfax County Department of Tax Administration tells GlobeSt.com that the property has a 2003 assessed value of just over $30.1 million.

Located at 4035 Ridgetop Rd., the eight-story Crown Ridge Building is a class A property that was built in 1990. Tenants at Crown Ridge include Home Mortgage LLC, and management solutions provider Viewlocity Inc. The General Services Administration signed a five-year lease agreement in 2000 for 4,300 sf of space in the building. Peterson will remain involved with the property by serving as manager; Transwestern Commercial Services has been tapped to handle leasing activity. Transwestern represented the buyer in the deal, while Eastdil Realty stood in for the seller.

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