VIRGINIA OFFICE BUILDING PURCHASED IN $68M SALE-LEASEBACK

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RESTON, VA. — A subsidiary of Rockwood Real Estate Partners Fund VIII has purchased Sallie Mae's 221,326-square-foot headquarters from the company in a $68 million sale-leaseback transaction. The single-tenant building, located in Reston Town Center in Reston, was built in 2004. Sallie Mae will lease the entire building until 2012, and then it will occupy only 55 percent of the space until 2019. CB Richard Ellis' Rob Faktorow and Tom Cleaver represented the buyer.

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