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Versar Center Sells in $20M Deal

SPRINGFIELD, VA-The Versar Center--a two-building, 15.76-acre office park in Fairfax County--becomes the property of Bresler & Reiner Inc. with the company's $20 million acquisition of Sarnia Corporation. The purchase is part of B&W's plan to stave off losses to be incurred when the General Services Administration's lease at the Waterside Complex expires later this year.

By Barbra Murray | Updated on February 04, 2002

SPRINGFIELD, VA-The Versar Center office park gets a new owner with home builder and commercial rental manager Bresler & Reiner, Inc.’s acquisition of Springfield-based real estate firm Sarnia Corporation as a wholly owned subsidiary in a $20 million deal. The transaction figure does not reflect the unspecified Sarnia liabilities that B&R has agreed to assume.

A local office of New York’s The Greenwich Group International announced in March 2001 that it had been chosen to market both the Sarnia company and its property. News of the B&R deal first surfaced in October of last year, but the transaction was just recently completed.

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