McLean, VA (December 12, 2023) – SRS Real Estate Partners announced today it has completed the $8.5 million acquisition of a single-tenant, 12,580-square-foot medical office building located at 20041 Riverside Commons Plaza in Ashburn, VA. Built in 2022, the property is fully occupied by OrthoVirginia, Virginia’s largest provider of orthopedic medicine and therapy.
SRS Capital Markets Executive Managing Director Andrew Fallon and First Vice President Philip Wellde Jr. represented the buyer, a Virginia-based private investor who was in a 1031 exchange and paid all-cash for the asset. The seller, and original developer of the property, was represented by Danny Booker, Rich Sillery, and Douglas Olson of Monument Retail.
“This asset offered our client the opportunity to own a corporate-guaranteed medical property occupied by a well-respected tenant under a long-term triple net lease,” said Fallon. “Properties like this provide passive, durable income for the ownership which is very attractive to private and 1031 exchange investors.”
“After an exhaustive search and property evaluation process, the buyer decided that this was a great long-term investment based on the caliber of the tenant and quality of the location,” added Wellde.
The property is a pad site to Riverside Square Shopping Center, a 90,000-sf retail center with tenants including Oak Health Club fitness center, Sheetz, Sherwin Williams, and Burger King, among others. It is also one-mile from Inova Loudon Hospital and has an affluent population of with more than 165,000 within a five-mile radius.
Year-to-date, SRS Capital Markets has completed nearly $2 billion in deal volume comprised of 403 transactions in 43 states. SRS currently has in excess of 660 properties actively on the market with a market value surpassing $3 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
Darcie Giacchetto
The Spaulding Agency
949.278.624
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