DEMAND WAS HIGH FOR VIRGINIA SQUARE PLAZA, WHICH SOLD FOR $20.6 MILLION
By John Mugford
There were 61 prospective buyers and 29 written offers for the roughly 70,000 square foot Virginia Square Plaza medical and office complex in Arlington, Va., according to NorthMarq Investment Services, which represented the seller.
Photo courtesy of NorthMarq Investment Services
Interest from potential buyers was quite intense for Virginia Square Plaza, a two-building medical office and general office building campus that had been put up for sale in the Rosslyn-Ballston Corridor in Arlington, Va.
In fact, according to Jim Kornick, who represented the undisclosed seller in the transaction, there were 61 prospective buyers. Mr. Kornick’s sales team at the Washington office of NorthMarq Investment Services received 29 written offers.
“What we experienced is that every buyer wanted the same product – fully leased, stable buildings that were well located,” says Mr. Kornick, the managing director of investment services at the D.C. office of Minneapolis-based NorthMarq.
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