– Capital Markets Team Secures Second Medical Office Sale in Less Than One Month –
KLNB, the Mid-Atlantic region’s largest privately-held CRE brokerage, has successfully negotiated the $7,850,000 sale of a 54,085-square-foot Medical Office Building (MOB) located at 8500 Executive Park Avenue in Fairfax, Virginia. Principal Joe Friedman and Associate Josh Norwitz of the KLNB Capital Markets team represented the seller and procured the buyer.
The property is a multi-tenant building, with currently 40% of the space occupied by medical tenants, including sports rehab, post-op rehab, dentistry, and behavioral health. The purchaser intends to increase the medical occupancy in the building over time by leveraging its strategical location just minutes from major healthcare facilities like Children’s National and Inova Fairfax, the building is within a medical office cluster that includes institutional owners such as Harrison Street and Global Medical REIT. Its proximity to the INOVA campus and the MOSAIC shopping district further enhances its appeal.
In 2024, the DMV region led the nation in rolling four-quarter sales volume of MOBs, reaching $381 million in Q2 2024—a 73% increase year-over-year. This recent sale exemplifies the sector’s strength in the region.
“Despite the ongoing challenges in the overall office market, investor demand for medical office properties in Northern Virginia remains strong,” says Friedman. “The MOSAIC district has become a highly attractive area, continuing to draw significant investor interest across all asset classes. The sale also included the assumption of an existing loan, which was key to the transaction’s success, given the current lending environment for office properties.”
This transaction follows the $9.2 million January 2025 sale of a 21,540-square-foot MOB in Northern Virginia, showcasing KLNB’s proven ability to close complex transactions for clients in a current capital markets environment which demands effective marketing, meticulous transaction management, and the agility to adapt to the evolving needs of both equity and debt investors.
About KLNB
KLNB is a leading provider of commercial real estate services throughout the Mid-Atlantic region. An independently owned and operated commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, consulting, capital markets, property management, research, marketing, branding, and financing services. More than 120 full-time brokerage professionals work across KLNB’s five offices strategically located throughout the Washington, D.C. / Baltimore region. http://klnb.com
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