Advantis Real Estate Services Co., a partner in GVA Worldwide, arranged the recent sales of three East Coast properties totaling more than 834,000 square feet.

The total value of the transactions was $80 million.

Milestone Industrial LLC transferred the Milestone Business Park, located in Germantown, Md., to Kennedy Associates Real Estate Counsel Inc., an institutional real estate investment advisor headquartered in Seattle. The business park is comprised of a 133,140-square-foot manufacturing building, a 183,198-square-foot office building and 450,000 square feet of additional future development potential.

Meritage Properties sold a majority interest in 475 School St., SW, located in Washington, D.C., for approximately $17.8 million. Potts and Meisel completed the placement of equity on behalf of a local family partnership in order to satisfy a Section 1031 tax-deferred exchange. The family used proceeds from their recent sale of the Hertz site at 11th and New York Avenue to buy a majority interest in 475 School St. Constructed in 1968 and completely renovated in 1996, this five-story office building totals 57,759 rentable square feet and was 100 percent leased on a long-term basis to Northrop Grumman at the time of sale.

The Snack Food Association sold 1711 King St., located in Alexandria, Va., for $2.7 million to The Wharco Realty Group, a local real estate investment and management company. Constructed in 1983, the 9,215-square-foot office building will be 100 percent occupied by the seller on a short-term basis.

Advantis/GVA is a full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate projects and sites.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×