Fernau LeBlanc acquires Fairfax office condo for $10m

Fernau LeBlanc acquires Fairfax office condo for $10m

Published at: 2018-12-18 15:57 | Author: CIJ USA
Fernau LeBlanc Investment Partners acquired a 86,474 sq ft office condo in Fairfax, Virginia, for $10.2m. Located in the Random Hills Center, the property features a conference room and fitness center, as well as a renovated lobby. Tenants include First Service Residential and WR Systems. Transwestern provided disposition services on behalf of the seller, a private investment management firm.

“With 76-percent occupancy and a weighted average lease term of over six years, the buyer will benefit from the stability of the property while still being able to add value through the lease-up of the existing vacancies and by collapsing the condo structure,” said Gerry Trainor, executive managing director at Transwestern. “Furthermore, the buyer will benefit from the recovering suburban market in northern Virginia which will be accelerated by the arrival of Amazon.”


Similar Stories:

Bridge Investment acquires South Florida offices for $123m
Bridge Investment Group is set to acquire two office properties in South Florida for a com  »
Thor Equities acquires Center of Excellence for $152m
Thor Equities has paid $152m for the Center of Excellence, a 48-acre business campus in Br  »
Capstone acquires West Palm Beach offices for $19.35m
Capstone has paid $19.35m for a class A office building in West Palm Beach, Florida. The s  »
Tomoka Land buys Virginia office asset for $18.6m
Consolidated-Tomoka Land Co., based in Daytona Beach, has closed on the $18.6 million purc  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »