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Falls Church Trophy Offices Sell to Menlo Equities
JLL closed the sale of 2941 Fairview Park Dr. in Falls Church, VA to an affiliate of Menlo Equities. The purchase price wasn’t disclosed, but published reports put it at $97.5 million for the 367,349-square-foot office property.
A JLL Capital Markets team led by Bill Prutting represented the unidentified seller and procured the buyer. The 94% leased property is part of the Fairview Park corporate office park, and reportedly benefits from being the only office building within walking distance of Defense Health Agency headquarters.
“The proven strategy of acquiring a trophy-quality asset with strong credit tenants, at a price below replacement cost in a fundamentally strong market and location, is timeless,” said Prutting.
At Menlo Equities, managing partner Rick Holmstrom said, “Menlo Equities’ acquisition of 2941 Fairview Park Dr. reaffirms our firm’s continued commitment to buy best-in-class assets in fundamentally strong, technology-driven markets that feature proven credit tenant demand.”
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- ◦Sale/Acquisition
