Two-Acre Office Park Sells for $15M in Ashburn, Va.
By Christina sturdivant-Sani August 24, 2018 12:34 pm
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A Chicago-based commercial real estate firm and a Los Angeles-based investment management firm have partnered to purchase a 75,191-square-foot medical office park in Ashburn, Va., about 30 miles outside of Washington, D.C., according to the seller’s brokerage firm.
MBRE Healthcare and Kayne Anderson Venture purchased the two-acre Ashburn Farm Professional Plaza from Harrison Street Real Estate Capital, per a press release from Avison Young.
The partnership paid $15 million for the property, according to a source familiar with the deal. The buyers did not return Commercial Observer’s request for comment.
Avison Young’s Jim Kornick, Mike Wilson, Chip Ryan, Erik Foster, John Kevill and Mark Johnson represented Harrison in the deal, per the release. MBRE Healthcare and Kayne Anderson Venture were not represented by a brokerage firm.
The plaza features three buildings arranged in an arch at 20905-20955 Professional Plaza. Tenants include family practices, pediatricians, OB/GYNs, radiology specialists, orthopedists, dentists and a daycare center, according to the release.
It’s situated at the center of the 1,200-acre mixed-use community Ashburn Park—2.5 miles from the Dulles Greenway Toll Road, three miles from the Inova Loudoun Hospital and less than 10 miles from the new Stone Springs Hospital Center.
“Ashburn Farm Professional Plaza attracted significant interest because it offered investors an opportunity for secure cash flow in a highly coveted submarket,” Kornick said, in a prepared statement. “This was outstanding opportunity to purchase a Class A office park with a tenant mix ideal for its location in a community of affluent young families.”
