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Buchanan Partners Gets $37 Mill for Two Buildings

STERLING, VA-Gaithersburg, Virginia's Buchanan Partners sells two of its three Lakeside@Loudon Tech office buildings to Netherlands-based Stone Hedge. The deal leaves Buchanan with partial ownership of the two structures.

By Barbra Murray | Updated on November 02, 2001

STERLING, VA-Buchanan Partners has sold a majority ownership in two of its three buildings at Sterling, Virginia’s Lakeside@Loudon Tech office complex for $36.6 million to Netherlands-based Stone Hedge Investments. The third structure, Lakeside III, may be up for grabs as well; Buchanan has given Stone Hedge a 12-month option to purchase it.

“Buchanan Partners,” says company Principal Brian Benninghoff, “will continue to maintain an ownership position while providing property management services to the complex.” The similarly-sized buildings account for a total 300,000 sf of office space.

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