Two-Building Office Complex Trades for $85M

FAIRFAX, VA-A premiere two-structure office property, comprised of the buildings known as Metro Place III and Metro Place IV, traded to a new owner in a recent $85-million deal. Opus East LLC, which developed the 301,500-sf complex four years ago, made the sell to a real estate entity operating under the name of Prosperity Metro Plaza LLC.

A Grubb & Ellis team–consisting of Eric Berkman, Steve Gichner, Brian MacDonald and Juliana Flowers–represented the seller; the buyer represented itself. The seven-story Metro Place buildings, enhanced by a connected eight-story parking facility, carry the addresses of 2675 and 2677 Prosperity Ave. and sit just across from a Metro station directly off Interstate 66.

Opus East Architects & Engineers designed the structures to bear a strong resemblance to each other, but they are not exactly identical; Metro Place III features 153,900 sf, while Metro Place IV offers 147,600 sf. At the time of the transaction, the buildings boasted an average occupancy level of 86%, with a roster of federal government and government contractors; and about 60% of the space is leased to the government through 2014.