Designed by Dunn & Associates, Lakeside sits on a 28-acre parcel off the intersection of Route 28 and Route 7 and near the 1.4-million-sf Dulles Town Center mall. Lakeside I, II and III--carrying the addresses of 21351, 21345 and 21355 Ridgetop Circle, respectively--reached completion between 1999 and 2001, and consist of just over 100,000 sf each.

All three four-story buildings are fully leased to more than 15 businesses. Internet domain name registration company Verisign Inc. has claimed about half of the entire complex, occupying Lakeside II in its entirety and about 55,500 sf of Lakeside III. Other complex occupants include Cigital Inc., which occupies 40,000 sf, Alpha Construction & Engineering Corp. and Washington Radiology Associates.

Relying on the guidance Bill Collins, Paul Collins, Drew Flood and James Cassidy of Cassidy & Pinkard--the only brokerage firm on the deal--Buchanan concluded that the timing was right to turn a profit on Lakeside. "The market was really strong and the prospects for returns were phenomenal," Buchanan's Bob Buchanan tells GlobeSt.com. With regard to plans for the proceeds from the sale, he hinted that the funds may be redeployed into new developments. "This year we'll start 800,000 sf, and that takes equity."