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Carr Closes on $17M Fairfax Office

FAIRFAX, VA-Carr Properties was one of the few prospects able to close the deal because the building had a low LTV.

By Erika Morphy | Updated on May 04, 2007

FAIFAX, VA-Carr Properties, the successor entity to Columbia Equity Trust, just closed on a $16.9 million acquisition here. Arnell Corp., an affiliate of the Polinger Co., sold the 87,648-sf, class B office building.

Grubb & Ellis’ Eric Berkman, Steve Gichner, Brian MacDonald, Juliana Ko and Ashley Blum represented the seller.

The 22-year-old property, called Gatewood Plaza, is located on 10201 Lee Hwy. in Fairfax City, and is over 90% leased. “The building has historically performed well,” Gichner tells GlobeSt.com. “Also, market rents in Fairfax are very stable.”

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