SPRINGFIELD, VA–In a deal that augurs all kinds of good things for the Washington, DC area economy and real estate community, a government contractor has picked up two offices in Springfield and Alexandria, Va. The company paid $12.9 million, or just under $96 per square feet for the two properties, which total 135,028 square feet.
The government contractor plans to occupy 30,000 square feet in the Springfield building, which is 33.9% occupied and located at 5501 Backlick Rd., and lease up the remaining space, according to Chandler Pace, who along with Robert Filley of Marcus & Millichap, represented the seller in the transaction.
The second building in Alexandria, located at 5520 Cherokee Ave., is almost fully leased and the new owner just plans to run it, Pace tells GlobeSt.com.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
