{"id":1004167324,"date":"2017-02-22T07:02:46","date_gmt":"2017-02-22T15:02:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004167324"},"modified":"2022-12-08T19:29:45","modified_gmt":"2022-12-09T03:29:45","slug":"nova-assets-trade-for-53m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nova-assets-trade-for-53m\/","title":{"rendered":"NoVa Assets Trade for $53M"},"content":{"rendered":"

By Mihaela Coste<\/p>\n

\"3120<\/a>

3120 Fairview Drive, Falls Church, Va.<\/p><\/div>\n

Falls Church, Va.<\/strong>\u2014Corporate Office Properties Trust has recently sold 3120 Fairview Park Drive, a 183,731-square-foot office asset located in the Merrifield submarket of Falls Church for $39 million, as well as a 5.3-acre parcel for $14 million.<\/p>\n

Situated at the intersection of Interstate 495 and US Route 50 on a 6-acre site, 3120 Fairview Park Drive allows immediate access to nearby points of interest and is approximately 2 miles away from the Dunn Loring-Merrifield station and 12 miles from Reagan National Airport. The Class A property built in 2008 features standard ceiling heights, 24,000-square-foot floor plates, and ample parking within a multi-level structure adjacent to the building. Amenities include an on-site deli, fitness center and 2.5 miles of nearby wooded jogging trails. At the end of 2016, the multi-tenant asset was 87 percent occupied.<\/p>\n

According to Yardi Matrix data, the asset last traded in 2010, when COPT acquired the property from Fairview Property Investments for $43 million.<\/p>\n

COPT has a portfolio of 152 office properties encompassing approximately 16.3 million square feet, having an average occupancy of 94.4 percent. The company has an additional $10 million of asset sales under contract and $37-$47 millions in contract negotiations, expected to close during 2017.<\/p>\n

Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 183,731-square-foot office property last traded in 2010, when COPT shelled out $43 million.<\/p>\n","protected":false},"author":1192,"featured_media":1004167326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21747,1615],"tags":[34076],"class_list":["post-1004167324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-corporate-office-properties-trust"],"acf":[],"yoast_head":"\nNoVa Assets Trade for $53M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nova-assets-trade-for-53m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NoVa Assets Trade for $53M\" \/>\n<meta property=\"og:description\" content=\"The 183,731-square-foot office property last traded in 2010, when COPT shelled out $43 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nova-assets-trade-for-53m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-22T15:02:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:29:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/3120-Fairview-Drive-Falls-Church-Va..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mihaela Coste\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nova-assets-trade-for-53m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nova-assets-trade-for-53m\/\",\"name\":\"NoVa Assets Trade for $53M - 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