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VIENNA, VA-The Hampshire Cos., a private real estate investment fund manager in Hartford, has acquired an office asset at 1041 Electric Ave., Vienna, in northern Virginia. According to a market source, the building traded for $13.68 million at a cap rate of 8.96%. The seller was Vienna Technology Park Associates. The acquisition was made on behalf of Hampshire Partners Fund VI, Hampshire’s $235 million institutional investment fund.

Richard W. Davidson and Michael Paukstitus of Coldwell Banker Commercial Capitol Realty in Vienna represented Hampshire in the transaction. Vienna Technology Park Associates Limited Partnership was represented by Brian Ball, executive director of GVA Advantis’ Tysons Corner office.

The property, which is fully leased by an US government agency, is located close to the intersection of the Capitol Beltway and I-66. A new Metro rail station is planned within walking distance of the building.

Norman A. Feinstein, executive vice president of The Hampshire Cos. said in a statement that purchase price is well below replacement value and the building is ideally located. “Our investment focus is in the growth corridors of the Northeast and Mid-Atlantic,” he said. “The fund is currently very active in seeking additional acquisitions throughout its targeted markets, and we are particularly bullish about the northern Virginia market.”

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