Qualified Opportunity Fund Sells Retail Property In McLean, VA For $20.4M

The retail property located at 8209 Watson Street in McLean, VA was sold in a transaction on January 11, 2023. The property, with a total square footage of 32,857, was purchased for a price of $20,400,000, resulting in a per square foot price of $621. The sale was facilitated by Jonathan Hipp, Richard Murphy, and Timothy Farrell of Avison Young acting as the brokers representing the Qualified Opportunity Fund.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $20,400,000
• Address: 8209 Watson Street, McLean, VA
• Market: McLean, VA
• BROKERS: Jonathan Hipp, Richard Murphy & Timothy Farrell - Avison Young
• SF: 32,857
• PPSF: $621

The deal involved the expertise of Jonathan Hipp, Richard Murphy, and Timothy Farrell, representing Avison Young. They played a critical role in facilitating the transaction between the seller, Qualified Opportunity Fund, and the buyer. Their extensive knowledge of the retail market in McLean, VA ensured a successful sale of the property at 8209 Watson Street.