Managing directors John Kevill and Collins Ege of Jones Lang LaSalle Capital Markets secured the buyer, a Prentiss Properties Trust-managed venture. According to Fairfax County records, the two-structure property has a total current assessed value of $36.6 million.

Developed in 1990 and 1996, respectively, President's Plaza I & II sit on Van Buren Street right off the Dulles Toll Road. Prentiss Properties is taking over management of the property, but has called on Jones Lang LaSalle to continue handling leasing at the site where space is being marketed for $28 per sf in President's Plaza II; President's Plaza I is presently fully occupied.

"This is one of the most recognizable assets along the Dulles Toll Road and provides prestigious visibility," Kevill says. "Its tremendous presence will ensure that Prentiss receives strong long-term rents which makes it a sound purchase."