Madison BuildingALEXANDRIA, VA–JOSS Realty has acquired a six-story office building here from Finmarc Management for $29.5 million. Called Offices at Waterfront Center, the property is located at 209 Madison St.
Kaleigh Jones and Erik Berkman of Cushman & Wakefield represented Finmarc Management in the sales transaction. The building was 90% leased at the time of the sale and is anchored by Sport & Health.
“The new owner acquired a strategically-located and excellently-maintained office asset in a Northern Virginia location with a high barrier to entry,” said Sean Sullivan, Vice President of Finmarc Management in a prepared statement. “During our ownership, we significantly increased the value of the building by maintaining high occupancy rates and maintaining it in peak operating condition.”
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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.
