Virginia Office Building Sold

A Fairfax, Va. office building has sold for $20.15 million. Earlier this week, CB Richard Ellis announced that the 91,000 sq. ft. headquarters building housing financial services firm Long & Foster was sold to T&M Fair Oaks Venture LLC. CBRE represented Long & Foster in the transaction.

"This property was very attractive to potential buyers, garnering more than a dozen offers,” says Bill Prutting, first vice president for CBRE.

“It has an excellent location near the Fairfax County Government Center and Fair Oaks Mall at the Intersection of I-66 and Route 50 as well as great visibility and building features such as external balconies, which provide a unique amenity.”

Long & Foster, which occupies the entire building, will lease back its space in the Fairfax building while its new headquarters building in Chantilly is being developed. Once Long & Foster relocates to its new headquarters next year, T&M Fair Oaks Venture will convert the building to office condos.

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