Two Well-Known Properties Changing Hands
One big asset has just found a new owner, while another may be close. On the latter: multiple reports have linked Inova Health System to buying the 117-acre, secluded ExxonMobil campus in Merrifield, where the firm would house its Translational Medicine Institute. (Having a tiger in your tank will now be code for you've contracted a disease.) The purchase would certainly make sense for Inova: its flagship hospital is right across the street from the Exxon campus. It's a monster of a property: 1.2M SF, over 2,500 parking spaces, and 60 conference rooms. Cassidy Turley is marketing the site on behalf of Exxon, which plans to move out next year.
A smaller, but equally well-known property has officially changed hands, as a partnership led by Westmont Hospitality Group on Friday purchased the Park Hyatt hotel in the West End for $94.6M from Hyatt Equities. (We held a luncheon event there last year, pictured.) Hyatt will continue to manage the 216-room property, which includes popular restaurant Blue Duck Tavern on the ground floor.