December 19, 2018
Fairfax, VA – Transwestern today announces it has brokered the sale of an 86,474-square-foot office condo at Random Hills Center, an office building at 11351 Random Hills Road in Fairfax, Virginia. Fernau LeBlanc Investment Partners LLC acquired the space for $10.2 million. Gerry Trainor, Executive Managing Director of Transwestern’s Mid-Atlantic Capital Markets Group, provided disposition services on behalf of the seller, a private investment management firm.
“With 76 percent occupancy and a weighted average lease term of over six years, the buyer will benefit from the stability of the property while still being able to add value through the lease-up of the existing vacancies and by collapsing the condo structure,” said Trainor. “Furthermore, the buyer will benefit from the recovering suburban market in Northern Virginia which will be accelerated by the arrival of Amazon.”
The amenity-rich building features a conference room and fitness center, as well as a renovated lobby. The property offers ample surface parking and proximity to an abundance of retail destinations. Its location at the intersection of Interstate 66 and Route 50 provides unrivaled access to Fairfax’s strong demographics and well-educated labor pool. Notable tenants include First Service Residential and WR Systems, LTD.
Transwestern’s Mid-Atlantic Capital Markets Group focuses on investment services throughout the Washington, D.C., region, providing clients with exceptional service and market knowledge. During the past 24 months, the group’s transactions have exceeded $1.7 billion in aggregate value. The team’s success is a direct result of detailed underwriting and keen understanding of the local, national and international investment communities.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 33 U.S. offices and assists clients from more than 219 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.