REBusinessOnline

Meridian Group Acquires Two Office Buildings in Northern Virginia for $58.3M

VIENNA, VA. — The Meridian Group has acquired 1951 Kidwell Drive and 193 Gallows Road in Vienna for a combined $58.3 million. The eight-story building at 1951 Kidwell spans 172,957 square feet and was 75 percent leased at the time of sale. The building located at 1953 Gallows is also eight stories and comprises 256,714 square feet. It was 55 percent leased at the time of sale. Meridian plans to upgrade the common areas and amenities of both assets in an effort to improve occupancy. The two …

Colliers Negotiates $14.7M Sale of Medical Office Building in Stafford, Virginia

STAFFORD, VA. — Colliers International has negotiated the $14.7 million sale of 50 Teach Parkway, a 94,064-square-foot medical office building in Stafford. The property was 94.5 percent leased at the time of sale to tenants including the United States government, BAE Systems and Space Dynamics Laboratory. The building is situated within the North Stafford Center for Business & Tech, a three-building office park adjacent to Quantico Marine Corp Base. The asset is situated 43 miles …

A&G Negotiates Sale of Leasehold Interest in 10 Former Earth Fare Grocery Stores in Five States

MELVILLE, N.Y. — A&G Real Estate Partners has negotiated the sale of the leasehold interest in 10 grocery stores previously occupied by organic specialty grocery chain Earth Fare. The grocer filed for Chapter 11 bankruptcy reorganization in early February and the final leasehold sale closed Friday, April 10. The 10 stores averaged 26,000 square feet. Southeastern Grocers’ Winn-Dixie chain acquired four stores in Boynton Beach, Jacksonville, Lakewood Ranch and Viera, Fla. Austin, …

Equus Capital Partners Sells Office Building in Northern Virginia for $52M

FALLS CHURCH, VA. — Equus Capital Partners Ltd. has sold a 282,542-square-foot office building in Fairfax for $52 million. The property is located at 8111 Gatehouse Road, 15 miles west of downtown Washington, D.C. The building was 92 percent leased at the time of sale. The Philadelphia-based seller recently implemented a $7 million capital investment program in the building that included adding a fitness center and locker rooms, as well as upgrading the lobby, common corridors, daycare and …

Ross Cos. Negotiates Sale of 152-Unit Affordable Housing Community in Newport News, Virginia

NEWPORT NEWS, VA. — Ross Cos. has negotiated the sale of Woodlands at Oyster Point, a 152-unit affordable housing community in Newport News. The property was built in 1978 and offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, public transportation, a playground and 24-hour laundry services. Allagash Opportunity Zone Partners LLC acquired the property for an undisclosed amount. Ross Cos. will manage the property, as well as oversee a year-long renovation …

Eyzenberg & Co. Structures Ground Lease and Selects Greystar to Develop a 424-Unit Student Housing Property Near Virginia Tech

BLACKSBURG, VA. — Greystar will redevelop an 11.5-acre site near Virginia Tech University into 424 student housing units. Sturbridge Square Apartments currently sits at the property, which is located at 1001 University City Blvd., one mile north of campus. The developer expects to break ground on the development this summer, with completion slated for fall 2022. Sturbridge Square Apartments currently comprises 11 buildings. The new community will offer six buildings offering one- through …

JLL Brokers $97.6M Sale of Office Building in Northern Virginia

FALLS CHURCH, VA. — JLL has brokered the sale of 2941 Fairview Park Drive, a 367,349-square-foot, 15-story office building in Falls Church. The sales price was not disclosed, although multiple media outlets report the asset traded for $97.6 million. The property was 94 percent leased at the time of sale to multiple Fortune 500 companies and the headquarters of defense and aerospace firm Booz Allen Hamilton. The building features 9- to 12-foot ceiling heights, a restaurant, café and a fitness …

Big Lots Signs 36,815 SF Lease to Anchor The Shops at England Run in Northern Virginia

FREDERICKSBURG, VA. — Big Lots has signed a lease to anchor The Shops at England Run, a retail center in Fredericksburg. The Big Lots store will span 36,815 square feet and is expected to open this fall. England Run is located at the intersection of Warrenton Road and Plantation Drive, 50 miles south of Washington, D.C. The landlord, MTH Management, has also signed leases with Goodwill, PNC, H&R Block, Taco Bell, Pancho Villa Mexican Restaurant and Skrimp

JLL Arranges $991.8M in Financing for 17-Property National Portfolio

SAN FRANCISCO — JLL Capital Markets has secured $991.8 million in financing for a 17-property portfolio totaling more than 7 million square feet across seven states, including California, Arizona, Texas, Tennessee, Georgia, Virginia and Massachusetts. The portfolio’s five office assets comprise the majority of the asset’s value, with the remaining properties consisting of nine industrial facilities and three multifamily communities. The commercial property portfolio is leased to a …

Blackfin, GMF Capital Acquire Multifamily Community in Fredericksburg, Virginia for $23.5M

FREDERICKSBURG, VA. — A joint venture between Blackfin Real Estate Investors and GMF Capital LLC has acquired Southpoint Reserve at Stoney Creek, a 156-unit multifamily community in Fredericksburg, for $23.5 million. The property offers one-, two and three-bedroom floor plans ranging in size from 450 to 1,075 square feet. Communal amenities include a clubhouse, pool, grilling stations, 24-hour fitness center, business lounge, playground and a sand volleyball court. The property was built in …

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