Virginia industrial hits $118 per square foot

Tenant's occupancy totals nearly 4 decades

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BAM Properties recently paid $7 million for a single-tenant industrial building in Lorton, Va. The 59,240-square-foot property, sold by Terminal Road Associates, is located at 8400 Terminal Road. Built in 1970, the asset features 21-foot clear heights. At the time of sale, the property was fully leased to General Services Administration (GSA), which has occupied the space for 37 years. ...