The seller of the land parcel, Regency Centers LP was represented by KLNB. Fraser Forbes represented the buyer.
The development site is located within the Lorton Station Town Center, a 94,977-sf mixed-use community in northern Virginia. The JV's plans call for the construction of a three-story, 47,459-sf medical office condominium. Ground is expected to break in October with the building scheduled for delivery in June 2008.
The Center serves the 300-acre master-planned Lorton Station neighborhood with 950 homes and a 100-acre park. It is also adjacent to a Virginia Railway Express commuter train station. The Center is also well situated in particular for medical office investment, Michael Abrams, managing principal of Rockledge Realty Partners, tells GlobeSt.com.
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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.
