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KLNB Secures $9M Sale of NoVA MOB
KLNB has negotiated the $9.2 million sale of a 21,540-square-foot medical office building located at 24801 Pinebrook Road in Chantilly, Virginia. Joe Friedman and Josh Norwitz of the KLNB Capital Markets team represented the seller. Friedman also represented the seller in 2008 when they acquired the property.
Seattle-based investment group Elliott Bay Capital Trust purchased the building, which is fully leased by INOVA, a healthcare system in Northern Virginia. KLNB’s Capital Markets industrial and office team, which consists of Joe Friedman, Chris Kubler, Don Schline and Josh Norwitz, has a specialty niche in the sale of medical office properties across the Mid-Atlantic, which is one of the nation’s most lucrative and active markets for the growing sector.
“As evidenced by this transaction, investors from around the nation are very interested in MOB assets in the DMV because of the highly favorable rate of population growth combined with a highly insured and educated workforce,” says KLNB’s Friedman.
