GVA Advantis brokered three recent transactions involving office, retail and industrial space in Virginia and Washington, D.C.
The total value of the transactions was approximately $60 million.
Real Estate Capital Partners sold Parkway Square in Herndon, Va., for $44.1 million to a private investor based in Germany. The property, located at 460 Herndon Parkway, is a two-story office building with approximately 205,074 square feet of rentable area. Parkway Square was 76 percent leased at closing to multiple credit tenants, including Boeing Aerospace Co., which leases 96,943 square feet.
Doug Bell, a local private owner, sold 1804-1808 Adams Mill Road in Washington, D.C., for $3.8 million to Douglas Development Corp., which operates in the D.C. metropolitan area. The property is a 17,841-square-foot office/retail building located in the heart of Adams Morgan, just two miles from the White House. It was originally constructed in the early 1900s.
Harbor Group International sold 1000 Lucas Way in Hampton, Va., for roughly $12.1 million to First Potomac, a publicly traded REIT that operates throughout the Mid-Atlantic region. The 23-acre site consists of two separate buildings constructed in 1992, totaling 180,462 rentable square feet within Hampton Roads Center, a 650-acre business park. The first building, a two-story office building with 60,462 square feet of rentable area, was 75 percent leased to Humana Military Healthcare Systems at the time of sale. The second building is a single-story industrial/manufacturing building that is 120,000 square feet of rentable area and was fully leased to Measurement Specialties Inc.’s Consumer Products Division.
GVA Advantis is a full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate projects and sites.
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