{"id":1004185600,"date":"2017-07-31T05:56:12","date_gmt":"2017-07-31T13:56:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185600"},"modified":"2022-12-09T00:24:33","modified_gmt":"2022-12-09T08:24:33","slug":"ay-tapped-to-market-northern-virginia-mob-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ay-tapped-to-market-northern-virginia-mob-campus\/","title":{"rendered":"AY Tapped to Market Northern Virginia MOB Campus"},"content":{"rendered":"

By Barbra Murray<\/p>\n

\"Merrifield-Fairfax<\/a>

Merrifield-Fairfax Medical Campus, Fairfax, Va.<\/p><\/div>\n

Avison Young has landed a plum assignment in suburban Washington, D.C. The Toronto-headquartered commercial real estate services firm was selected to serve as the exclusive advisor in the sale of the 120,000-square-foot Merrifield-Fairfax Medical Campus in Fairfax, Va. Grosvenor Americas is the current owner of the property.<\/p>\n

\u201cThis is a unique opportunity to acquire the best medical office building in the most desirable submarket of the Washington, D.C., area,\u201d<\/em> Jim Kornick, principal with Avison Young, said in a prepared statement. \u201cWe expect considerable interest from around the nation and around the globe.\u201d<\/em><\/p>\n

A trophy-quality MOB, Merrifield-Fairfax made its debut in 2009, developed by The Long Cos. The 4.6-acre property sits at 3023 Hamaker Court, roughly 1.5 miles from Inova Fairfax Hospital Campus, and includes a seven-story parking facility and a premier tenant roster. A venture between Children\u2019s National Health System and Pediatric Specialists of Virginia occupies two-thirds of the building, which is presently 84.5 percent leased. Also part of the package is an adjacent site already entitled for a 120,000-square-foot, mirror version of the existing tower.<\/p>\n

Five members of Avison Young\u2019s national capital markets group\u2014all of whom specialize in healthcare investments\u2014will lead the sales effort. Washington, D.C.-based principals Kornick and Chip Ryan are part of the team, as are Chicago-based principals Mike Wilson and Erik Foster, and Mark Johnson, an executive vice president also based in the Chicago office.\u00a0<\/p>\n

Investors hungry for MOB<\/h2>\n

\u201cNationally, demand for core medical office buildings<\/a>, highest quality buildings with a great hospital-anchored rent roll in strong markets, far outstrips the supply. REITs, private equity and international investors are clamoring for them at record prices,\u201d<\/em> Kornick told Commercial Property Executive<\/em>. \u201cMerrifield-Fairfax checks all of those boxes, so we expect a very strong competition for this building. It goes without saying that such an asset in a close-in Northern Virginia location makes it even more attractive.\u201d<\/em><\/p>\n

Merrifield-Fairfax last traded in 2012, when Grosvenor acquired it from Long in a $43 million transaction.<\/p>\n

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

A five-person team specializing in health-care investments is charged with orchestrating the sale of the 119,800-square-foot trophy medical office building.<\/p>\n","protected":false},"author":969,"featured_media":1004185604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21754,11,21742,1615],"tags":[33022,37039,37038],"class_list":["post-1004185600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-medical-office","category-midatlantic","category-latest","category-washington-dc","tag-avison-young","tag-grosvenor-group","tag-jim-kornick"],"acf":[],"yoast_head":"\nAY Tapped to Market Northern Virginia MOB Campus - 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\/ay-tapped-to-market-northern-virginia-mob-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AY Tapped to Market Northern Virginia MOB Campus\" \/>\n<meta property=\"og:description\" content=\"A five-person team specializing in health-care investments is charged with orchestrating the sale of the 119,800-square-foot trophy medical office building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ay-tapped-to-market-northern-virginia-mob-campus\/\" \/>\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=\"2017-07-31T13:56:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:24:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Merrifield-Fairfax-Medical-Campus-Fairfax-Va.-courtesy-of-Avison-Young-e1501587571808.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2700\" \/>\n\t<meta property=\"og:image:height\" content=\"1935\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\/ay-tapped-to-market-northern-virginia-mob-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ay-tapped-to-market-northern-virginia-mob-campus\/\",\"name\":\"AY Tapped to Market Northern Virginia MOB Campus - 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