Foulger-Pratt Purchases 210000 SF Property At 1900 Gallows Rd Vienna With James Cassidy As Seller's Rep
1900 Gallows Rd, Vienna, VA, 22182
Building Size
210,000 SF
Asset Type
Office
Closing
Sep 19, 2019
AI
The property involved in the transaction is an office building located at 1900 Gallows Rd, Vienna, VA, 22182. It encompasses 210,000 square feet and is situated in the Vienna market. The asset was previously owned by Brandywine Realty Trust, who completed a renovation of an entire floor of the building, creating ready-to-occupy “spec suites” that range from 2,500 to 3,500 square feet.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: Not disclosed
- Square Footage: 210,000
- Address: 1900 Gallows Rd, Vienna, VA, 22182
- Market: Vienna
- Seller's Representative: James Cassidy - Newmark
- Buyer: Foulger-Pratt
Jud Ryan and James Cassidy, executive managing directors at Newmark Knight Frank, facilitated the sale on behalf of Brandywine Realty Trust. The transaction garnered significant interest from various investors, attributed to the potential for rent increases of up to 40 percent through strategic capital investments in the building.
Players
Vienna Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93