First Potomac Sells Vacant One Fair Oaks In Fairfax To Beacon Capital Partners For $14M
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First Potomac Realty Trust has sold its newly vacant One Fair Oaks property for $14M, less than a quarter of what it bought the building for six years ago.
The building at 4114 Legato Road in Fairfax was sold to Boston-based Beacon Capital. CACI International had occupied the entirety of the 214k SF building until it moved out in Q4 2016 to consolidate its offices on Route 28.
First Potomac bought the building for $60M in 2011. It had previously been owned by Lehman Brothers, which retained Monday Properties to manage its NoVa assets, including this one, following the firm's bankruptcy.
Beacon Capital has retained Cushman & Wakefield to lease the property, which sits just off I-66 near the Fair Oaks Mall, but it is not Metro accessible. Beacon last June sold International Place in Rosslyn for just over $100M and in November it put its four-building Tysons Metro Center on the market.