ARLINGTON, VA—Earlier this month, the Arlington County Board approved a proposal giving Virginia Hospital Center the option to purchase the site at 1800 North Edison St, a parcel of land next to the hospital that the county owns.

The payment for the land, per an agreement outlined in an earlier non-binding letter of intent between the County and the hospital, will be either “cash, one of more specified VHC-owned properties, or a combination thereof.” As for the purchase price itself, the LOI established it will be the fair market value of the property determined at the time VHC exercises the option to purchase. The earliest date that it can do so is 30 months after the effective date of the agreement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.