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.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.