Grosvenor Looking To Sell Fairfax MOB, Adjacent Development Site
A 120K SF medical office building near the Inova Fairfax Hospital in Northern Virginia has hit the market, along with an adjacent development site.
The property was built in 2009 and is 84.5% leased. Its largest tenants include Children's National Health System and Pediatric Specialists of Virginia. It comes with an adjacent development site that has received approval for another 120K SF office building.
“It is the highest quality medical office building in the Washington region,” Avison Young Principal Jim Kornick, who specializes in MOB deals, said. “Every core medical office investor in the world will take a look at this deal.”
Kornick is marketing the property along with Avison Young's Chip Ryan, Mike Wilson, Erik Foster and Mark Johnson. He said he expects it will sell in the $60M range.
The site is a mile north of the Inova Fairfax Hospital, and the location of the upcoming Inova Center for Personalized Health, a $250M project under construction on the 117-acre former ExxonMobil campus.
CORRECTION, TUESDAY AUG. 1, 2:00 EST: A previous version of this story incorrectly stated the company Jim Kornick works for. He is a principal at Avison Young. The story has been updated.