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Northmarq Brokers $18.5M Sale of Tysons High-Rise Development
Northmarq has completed the $18.5 million sale of Scotts Run, a fully approved, 447-unit high-rise development opportunity located in Tysons, Virginia.
Northmarq’s Mid-Atlantic Investment Sales Team included Chris Doerr, Will Harvey, Shack Stanwick, Ari Azarbarzin, Anthony Pino, Matt Straughan, Jack Brocato and Meg Carter. “Nation-leading rent growth, solid for-sale home prices and high barriers-to-entry make submarkets like Tysons extremely attractive to investors,” said Doerr.
The fully designed project is part of the Scotts Run master development — a 40-acre, 6.5 million-square-foot project featuring an array of multifamily, office, hotel and retail use. The 1.3-acre Scotts Run site is fully approved for a 25-story concrete construction with 447 units and 15,207 square feet of retail space.
The project is planned to feature studio, one-, two- and three-bedroom floorplans. The project is located within walking distance of numerous retailers, including two shopping malls, Tysons Corner Center and Tysons Galleria. It is directly across from Capital One’s recently delivered 4.9 million-square-foot headquarters.
