ACP Buys Two Fairfax Properties for $45M

RESTON, VA-Miami-based America’s Capital Partners has acquired two buildings in the Lake Fairfax Business Park for $44.5 million. Douglas Fleit, the Mid-Atlantic CEO of the firm, tells GlobeSt.com that the buildings were sold by Rim Pacific Properties in Southern California. Andy Stape of Transwestern represented the seller.

One of the buildings, 1761 Business Center Dr. known as Lake Fairfax IV, is a four-story, class A 94,550-sf office building recently vacated by the sole tenant that had occupied the entire space. ACP, which is still determining the costs involved, plans to renovate the lobby common area and landscaping in early 2007.

“It is likely that the tenant will be of a similar caliber to the companies that already reside in the park, which are Fortune 500 firms and government agencies,” Fleit says. The asking rent for the building, which is the only vacant one in the park according to Fleit, will be between $31 to $32 per sf.