Kingstowne office buildings sell for $13M
Offices are 93% leased
Two office buildings in the Kingstowne area of Fairfax County have sold for $12.9 million, Avison Young announced last week.
Melrose Solomon Enterprises purchased two office buildings at 5901 Village Parkway and 5695 King Centre Drive from The Halle Cos., based in Maryland.
The larger property, 5695 Kings Centre Drive, is three stories, and was built in 2002. It is on the eastern edge of Kingstowne, near South Van Dorn Street, and has 44,252 square feet of net rentable space. The second building, at 5901 Kingstowne Village Parkway, has 22,117 square feet of net rentable space. It is on the northern boundary of the Kingstowne Towne Center. Combined, the properties are 93% leased to medical offices, government contractors and other tenants.
Representing the seller was an Avison Young Capital Markets team led by Chip Ryan and Matt Weber. Jon Goldstein, Wes Boatwright and Mike Yavinsky, all at Avison Young, arranged the financing on behalf of Melrose Solomon.