Washington DC CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Washington DC  + DC Metro  + Office  | 
KBS has sold the Redwood Plaza office park in Fairfax, VA to Network Realty Partners for $24 million.

Network Realty, KBS Exchange $23M for Three-Building Office Park in Fairfax

KBS, which maintains a regional office in Arlington, VA, has disposition of Redwood Plaza I, II & III, a three-building Class A office complex spanning 207,000 square feet in Fairfax, VA for $23 million.

The property, originally acquired by KBS in 2000, was purchased by Arlington, VA-based Network Realty Partners.

Jim Meisel, Matt Nicholson, Andrew Weir, Kevin Byrd and Dave Baker of JLL brokered the transaction.

“Based on Fairfax, VA’s robust office market fundamentals and the increasing demand for premier office space, now is the ideal time to sell this asset,” says Marc DeLuca, CEO and Eastern regional president at KBS.

Redwood Plaza consists of Redwood Plaza I, a five-story building that holds 99,297 total rentable square feet of space; Redwood Plaza II, a three-story building that offers 67,328 total rentable square feet; and Redwood Plaza III, a two-story building containing 40,984 rentable square feet. The three buildings have recently been renovated with new tenant lounge and lobbies plus include a conference center, catering kitchen and community pantry.

Connect

Inside The Story

KBS' DeLuca

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
New call-to-action
Hines-01-cube