The building, which traded in a 1031 transaction, was acquired from Falcon Real Estate Investment Co. Paul Collins, Bill Collins, Drew Flood and James Cassidy of Cassidy & Pinkard Colliers represented the seller.
The building has a single tenant--Cox Communications--with a 9.5-year lease that is valued around the size of the transaction. Even without the investment grade tenant in place, Flood tells GlobeSt.com, the building is well located in a high demand area.
"This is an expanding submarket and the building is located very close to the new CIA campus," he says. Located at 3080 Centreville Rd., the Cox Communications Building is a two-story, 94,170-sf, build-to-suit office structure that delivered in 2002. It has been leased to Cox on an absolute, triple net basis.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
