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3141 Fairview Park Drive, F...

Monday Properties Acquires Office Building In Falls Church, VA For $27.6M
SOLDOffice

Monday Properties Acquires Office Building In Falls Church, VA For $27.6M

3141 Fairview Park Drive, Falls Church, VA, USA

$27,600,000

$150/SF

Building Size

184,000 SF

Asset Type

Office

Closing

Nov 19, 2021

AI

The office property located at 3141 Fairview Park in Falls Church, VA has been sold in a transaction that took place on November 19, 2021. The property spans across a total area of 184,000 square feet and has been sold for a price of $27,600,000, resulting in a price per square foot of $150. The sale was facilitated by the brokers James Cassidy and Jud Ryan from Newmark on behalf of the seller, Brandywine Realty Trust. The buyer of the property is Monday Properties, represented by Jennifer Burns and Cliff Cummings.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $27,600,000
  • Square Footage: 184,000
  • Price Per Square Foot: $150
  • Address: 3141 Fairview Park, Falls Church, VA
  • Seller: Brandywine Realty Trust
  • Buyer: Monday Properties - Jennifer Burns & Cliff Cummings
  • Brokers: James Cassidy & Jud Ryan - Newmark

The successful sale of the office property was facilitated by the expertise and assistance of James Cassidy and Jud Ryan, who represented the seller in the transaction. Monday Properties, represented by Jennifer Burns and Cliff Cummings, emerged as the buyer of the property. This transaction marks another significant deal in the Falls Church, VA market.

Players

James Cassidy

Newmark

Broker

$1.1B

vol

13 deals

Broker
Brandywine Realty Trust
Brandywine Realty TrustBrokerage

Cliff Cummings

Monday Properties

Buyer

$189.2M

vol

3 deals

Buyer

Falls Church 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

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93