BGP Enterprises Acquires Office Property In Springfield, Va For $29.3M
6225 Brandon Avenue, Springfield, VA, USA
$29,300,000
$211/SF
Building Size
138,830 SF
Asset Type
Office
Closing
Nov 17, 2021
AI
The office building located at 6225 Brandon Avenue in Springfield, VA has been sold in a recent transaction. The property, spanning 138,830 square feet, was purchased by BGP Enterprises for a sale price of $29,300,000. This translates to a price per square foot of $211, highlighting the value of the asset.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $29,300,000
- Address: 6225 Brandon Avenue, Springfield, VA
- Market: Springfield, VA
Artemis Real Estate Partners and MRP Realty acted as the sellers in the transaction. The buyer was represented by Jud Ryan and James Cassidy from Newmark. Their expertise and guidance played a crucial role in facilitating the deal.
This sale marks an important milestone for all parties involved and contributes to the evolving real estate landscape in Springfield, VA.
Players
Springfield 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93