August 9, 2023
Fairfax, VA – 10201 Fairfax Boulevard, LLC has acquired Gatewood Plaza, a Class A office building located at 10201 Fairfax Boulevard in Fairfax, Virginia, for $12.5 million.
The 88,995-square-foot building, situated on 3 acres of land, was purchased as a cash-flowing office investment. At the time of sale, the property boasted a 97% occupancy rate with tenants including prominent aerospace government contractor Trident Systems. The acquisition was based on an attractive 11.5% cap rate.
Strategically positioned near the heart of Fairfax, the property enjoys convenient access to major roadways including Rt. 50, Rt. 123, Rt. 29, and I-66. Additionally, it benefits from the presence of numerous restaurants and retail amenities within walking distance. Beyond its current use, the site’s ample space and location hold potential for future redevelopment, possibly accommodating residential multifamily and retail development.
Representing the Parties:
● Gerry Trainor of Transwestern served as the seller’s representative.
● James Legat and Audrey Wallace represented the buyer, 10201 Fairfax Boulevard, LLC.
Settlement: The transaction closed on August 9th, 2023.
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