TYSONS, VA—One of the last sales to squeeze through in Northern Virginia last year was the sale of the Tysons Overlook.
Pentagon Federal Credit Union acquired the 11-story, 308,000-square foot building, located at 7940 Jones Branch Dr., and an adjacent development site, for a total of $164 million.
The deal contributed to the positive leasing absorption in Northern Virginia because it was an expansion play for PenFed—and because one of the sellers, LMI, a government consulting firm, signed a sale-leaseback for its space. MRP Realty was the other seller of the building, which delivered in 2014.
Now LMI has revealed its purchase price, giving a bit of insight into the partnership it had with MRP Realty. It has sold its portion of Tysons Overlook for $92.5 million, broker Cushman & Wakefield recently announced.
Bill Collins, Paul Collins, Paul Darr, Dale Powell, James Cassidy, Jud Ryan and Drew Flood brokered the transaction on behalf of the seller to the Pentagon Federal Credit Union.
TYSONS, VA—One of the last sales to squeeze through in Northern
Pentagon Federal Credit Union acquired the 11-story, 308,000-square foot building, located at 7940 Jones Branch Dr., and an adjacent development site, for a total of $164 million.
The deal contributed to the positive leasing absorption in Northern
Now LMI has revealed its purchase price, giving a bit of insight into the partnership it had with MRP Realty. It has sold its portion of Tysons Overlook for $92.5 million, broker Cushman & Wakefield recently announced.
Bill Collins, Paul Collins, Paul Darr, Dale Powell, James Cassidy, Jud Ryan and Drew Flood brokered the transaction on behalf of the seller to the Pentagon Federal Credit Union.
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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.
