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UNDISTRESSING SALE

WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé -- Combined Properties
Greg Trimmer -- JBG SMITH
Alex Nyhan -- First Washington Realty
UNDISTRESSING SALE

A distressed real estate player has grabbed another Atlanta office building.

 
UNDISTRESSING SALE

An investment group partially funded by Atlanta-based Resource Real Estate has purchased 11450 Technology Circle, a 143K SF single-tenant office building in Johns Creek for $4.3M, or a little more than $30/SF. CBRE's institutional group of Jay O'Meara, Will Yowell, and  Justin Parsonnet brokered the sale from an undisclosed CMBS special servicer. Resource's Brad Smith  tells us that this is a product in a submarket the company understands. It was originally the offices of AnTec, which vacated, and it has remained empty since, Brad says. TPA will handle the management and leasing.