REI Building Trades in Tysons
This morning, Finmarc Management, along with partner SPMC Urban Properties, announced the sale of 8209 Watson Rd in Tysons, currently long-term leased to outdoor retailer extraordinaire REI. Constellation 107th Street LLC purchased the 33k SF building, where REI moved in about a year ago, for $22M. Finmarc says the sale marks $450M in deals over the past 25 months and that it will seek to acquire $50M more in assets by the end of 2014. SPMC has been active as well, purchasing six assets in DC and Virginia over the past 18 months. Calkain Co's Jonathan Hipp, Andrew Fallon, and Jonathan Florin repped both sides in the off-market deal.