NKF Completes $52M Office Property Sale
The 282,542-square-foot asset in Merrifield, VA recently underwent $7 million in capital improvements.
FAIRFAX COUNTY, VA – Newmark Knight Frank has completed the sale of 8111 Gatehouse Road in Merrifield, VA for $52 million on behalf an Equus Capital Partners Ltd affiliate. The 282,542-square-foot building was purchased by an undisclosed buyer.
The office building is 92% leased and recently underwent $7 million in capital improvements, with renovations to the lobby, common corridors, underground parking, daycare, onsite fitness center and locker rooms.
Located in the center of the city’s new mixed-use Gallows Road Corridor, the Fairfax County property allows or nearby access to major roads in Northern Virginia.
Newmark Knight Frank executive managing directors, James Cassidy and Jud Ryan facilitated the sale.
Headquartered in Philadelphia, PA, Equus Capital Partners Ltd is a developer and private equity real estate fund manager with a diversified portfolio encompassing office, multifamily, industrial and retail properties.
Operated by Newmark Group Inc., Newmark Knight Frank is a commercial real estate advisory firm that offers a complete suite of services and products to owners and occupiers. The firm currently employs 18,000 professionals across 480 offices on six continents.