Developed in 1986, Parkway Square sits at 460 Herndon Parkway just off the Dulles Airport Access Rd. in the Dulles Corridor. The class B property has a current occupancy level of 76% and features Boeing Aerospace Co. as the lead tenant with nearly 97,000 sf. Other businesses making their home at Parkway Square include communications trading electronic marketplace Arbinet and IT services provider Digicon Corp.

The deal was brokered solely by Dek Potts and Jim Meisel of GVA Advantis. The firm had been marketing available space in the two-story building for $21.50 per sf. "The demand for real estate investment remains robust," Potts says, "regardless of whether a property is a value-add play, a major redevelopment or a stabilized asset."