FALLS CHURCH, VA-Two 13-tower office buildings that total 399,049 square feet and a development site that can accommodate another 200,000-square foot office building have sold for roughly $86 million. The buildings, Falls Church Corporate Center, are located at 6400 & 6402 Arlington Blvd. They are 88% occupied and trading at a mid 6 cap rate, in place. When the property stabilizes the cap rate is expected to settle at mid 7.

The property was acquired by the JBG Cos. from Pearlmark Real Estate Partners. Transwestern’s DC Institutional Commercial Group brokered the sale on behalf of the seller. The building has undergone a renovation in recent years, Gerry Trainor, executive managing director of Transwestern tells GlobeSt.com. “JBG’s game plan is to lease it up and enjoy the cash flow,” he says.

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