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LORTON, VA-Armada Hoffler has sold a fully leased office/flex building here for $20.3 million. The buyer is undisclosed in this off-market trade of the property, called the DEA Building, which is located within the Gunston Commerce Center. Perseus Realty Capital vice president Lindsay Stroud represented Armada Hoffler in the sale.

Built in 2000, the 90,167-sf, class A building is fully leased to the US Drug Enforcement Agency through 2020. Besides the investment grade tenant, the building’s location in the Springfield/I-95 also is part of its lure, Stroud says in a prepared statement. The submarket’s “low vacancy strength to offer an exceptionally located, high quality product, fully leased to the premier grade tenant, the US Government,” he says. “This kind of stabilized asset is highly sought after in today’s turbulent capital marketplace.” PRC did not return a call to GlobeSt.com in time for publication.

The Springfield/I-95 Flex market has a 7.4% vacancy rate, which compares favorably with Northern Virginia’s overall 9.1% vacancy rate. Nearby tenants include Northrop Grumman, Lockheed Martin and USA Today. The property is also close to Fort Belvoir, the Quantico Marine Corps Base and the Pentagon.

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