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Intertech sells parcel to Merritt Properties for new office complex construction

TYSON’S CORNER, Va. – New York-based Intertech Corp., a privately held real estate development and investment firm, has sold a 24-acre parcel at Ashbrook in Ashburn, Va., to Baltimore-based Merritt Properties LLC for an undisclosed amount. Merritt has begun construction on a complex of four office/flex buildings, which will be named Merritt @ Ashbrook and will total over 200,000 sq. ft. The first 50,000 sq. ft. building is slated for completion in December 2001.

Located in eastern Loudoun County, Va., Ashbrook is a 277-acre, mixed-use property that is zoned to include single-family homes, a 225,000 sq. ft. community retail center and up to two million sq. ft. of office space. Washington, D.C.-based Karchem Properties Inc. is the site developer of Ashbrook.

Rob Faktorow and Terrence Reiley of New York-based Insignia/ESG Inc. represented Intertech in the sale of the land, and also will serve as listing brokers for Merritt’s new complex.

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