Financial specifics of this transaction have not yet been revealed. Beaumeade, located off Loudoun County Parkway near Washington Dulles International Airport, occupies a 12-acre parcel in the 700-acre Beaumeade Corporate Park. The six-year-old structures at 44675 Cape Court and 21740 Beaumeade Circle feature 74,000 sf and 58,000 sf, respectively. At the time of the transaction, 30% of the recently converted condos were pre-sold.

"This campus seemed ideal for conversion to units that allow individual investors to participate with us in this strong real estate market and take advantage of the kind of opportunity normally only available on a grand scale to the big players," Penzance managing principal and chairperson Julia Springer Tolkan says. Currently listed for purchase are MacTec Engineering's 14,900-sf space for about $2.9 million, Designed Telecommunications' home of 9,400 sf for $1.7 million and Verizon Global Network's 4,900-sf space for $700,000.