Boston Properties Puts Fairfax County Mixed-Use Property On The Market
A portion of the Kingstowne Town Center mixed-use property in Fairfax County is for sale.
Boston Properties retained Avision Young to market two office buildings and a retail center totaling 396K SF, the Washington Business Journal reports.
The buildings sit about 2 miles south of The Beltway interchange with South Van Dorn Street. They are part of the Kingstowne Town Center mixed-use complex, anchored by a Regal movie theater, Walmart, Safeway, Giant, Aldi and Kohl's.
The largest of the buildings, a 156K SF office property at 5611 Kingstowne Village Parkway, is 68% leased. The 151K SF office building is 93% leased, and the 88K SF retail property is 94% leased. The buildings have a combined assessed value around $97.7M, the WBJ reported.
Boston Properties developed the nearby Transportation Security Administration headquarters and sold it last year for $98.1M. The REIT also reached a deal in January to sell a General Services Administration-leased Herndon office park for $256M.
