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TYSONS CORNER, VA-Vornado Realty Trust has entered into an agreement to sell its three-building Tysons Dulles Plaza complex for $152.8 million. The 482,000-sf asset is unencumbered, the company says in a press release, and its gain on the sale will be approximately $56 million.

The deal is expected to close in Q2 2008. The buyer was not disclosed. Vornado did not return calls in time for deadline.

The trade works out to roughly $317 per sf, which is in line with the few class A offices that have traded in this very dense submarket. “There haven’t been a lot of sales here to compare it against,” Tonya Ginter, director of Research & Marketing for GVA Advantis, tells GlobeSt.com. She points to a sale in Feb. 2007 as a close comp: 2216 and 2222 Gallows Rd., a 106,961-sf package that sold for $305.72 per sf. “Despite the fact that the economy isn’t doing so well, this shows that prices haven’t dropped by that much, at least in this submarket.”

New–and long awaited–development in the submarket is expanding supply. MRP Realty has told GlobeSt.com that it is planning a 500,000-sf office for roughly $250 million. Lerner Enterprises is building an 18-story 472,000-sf office tower at 1775 Tysons Blvd. in the Corporate Office Centre at Tysons II and B.F. Saul Co. is building an 11-story, 312,897-sf building at 7930 Jones Branch Dr.

Tysons Dulles Plaza I, located 1420 Spring Hill Rd., is a 155,100-sf building. Tysons Dulles Plaza II, a 159,000-sf building, is at 1430 Spring Hill Rd. The third building, Tysons Dulles Plaza III, is a 159,000-sf office at 1410 Spring Hill Rd.

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