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News Release: Avison Young Arranges Sale of Medical Office Building During Pandemic

News Release

For Immediate Release

[Monday, June 1, 2020]

WASHINGTON DC – Avison Young announced today that it has arranged the sale of a medical office building located at 8301 Arlington Boulevard in the Merrifield submarket of Fairfax, Virginia within Fairfax County. The commercial property is home to a variety of medical practice specialties including Fairfax Convenient Care and is currently 37 percent leased.

The owner, Harrison Street Real Estate, was represented by an Avison Young team led by Principal Jim Kornick. The five-story, 53,430 square foot medical office building is situated on a 2.18-acre lot that is easily accessible from the Capital Beltway and Route 50. A covered land play, the building is zoned to allow non-retail commercial uses with the opportunity to redevelop as hospitality or senior housing.

“In spite of the challenges presented by the COVID-19 epidemic, we were able to find a private buyer with whom we executed a smooth transaction,” said Kornick.

The building offers high visibility and easy access from Arlington Boulevard, and is ideally located, less than 1 mile away from Inova Fairfax Hospital, Inova Center for Personalized Health and regional destination work-live-play center – Mosaic District. The medical office building is also a few blocks from Dunn Loring-Merrifield Metro station, providing access to the Orange Line.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 107 offices in 14 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors. Avison Young is a 2019 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years. www.avisonyoung.com

Jim Kornick, Principal, Washington, DC: 301.529.1283

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