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6225 Brandon Avenue, Spring...

BGP Enterprises Acquires Office Property In Springfield, Va For $29.3M
SOLDOffice

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

James Cassidy

Newmark

Broker

$1.1B

vol

13 deals

Broker
MR
MRP RealtySeller

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