October 2020

Marcus Partners Completes Sale of Fairview Park Office Buildings to Vanderbilt Office Properties

Core, Stable Cash-flowing Assets Revered During Period of Uncertainty

WASHINGTON DC –October 13, 2020 – Marcus Partners, a real estate investment, management, and development firm, today announced they have completed the sale of 3170 and 3180 Fairview Park in Falls Church, Virginia for $87.5 million. The purchaser is a joint venture formed by Estein USA with Vanderbilt Office Properties who will manage the property for the venture. Jud Ryan, James Cassidy, and Cliff Cummings of Newmark Knight Frank represented Marcus Partners in the transaction.

“With the completion of our transformative repositioning, we were successful in attracting a mixture of strong credit tenants to lease the campus with a weighted average term of 11 years,” said Andrew Dolinsky, Principal and Washington, D.C. Regional Director for Marcus Partners. “Our team has a long history of creating highly desirable environments for tenants and owners alike, and we are thrilled to continue that legacy with the transformation of 3170 and 3180 Fairview Park.”

Purchased in November 2017, Marcus Partners completed an extensive renovation creating a best-in-class campus environment with spacious amenities and high-quality finishes. The amenity program introduced key new elements to the building including Bistro in the Park: a high-end eatery with fresh food options prepared daily; collaborative indoor and outdoor gathering areas; a 5,000 square foot state-of-the-art fitness facility with Peloton bicycles and spa-quality locker rooms; a group fitness studio with on-demand virtual training; and a 100-seat auditorium with an additional 100-seat conferencing facility.

The campus was successfully leased up to 98% by early 2020 and is occupied by General Dynamics Information Technology, Capital Caring Health, Sheet Metal Workers’ National Pension Fund, and Balfour Beatty.

Andy Klaff, Ed Clark, and Jeff Tarae of Newmark Knight Frank represented Marcus Partners in the leasing process. Brian Wood of CBRE represented Capital Caring Health. Gene Martin and Brian Martin of Avison Young represented Sheet Metal Workers’ National Pension Fund. Mike Grogan and Peter Gordon of Washington Realty Group represented Balfour Beatty.

About Estein USA

Estein USA invests exclusively in the United States with investments across almost all real estate assets including office buildings, residential, hotels, industrial buildings and retail lifestyle centers. The vast majority of the firm’s investors have partnered continually and exclusively with Estein USA, some having been with the firm since the 1970s. Over its 42-year history, Estein USA has invested more than $6.5 billion in total equity. Visit esteinusa.com to learn more.

About Vanderbilt Office Properties

Vanderbilt Office Properties is a vertically integrated real estate investment manager focusing on office investment opportunities throughout the U.S. Since inception in 2014, Vanderbilt has invested over $3.9 billion and acquired / developed 90+ buildings through over 28 transactions. Vanderbilt currently manages and / or owns 15.2 million square feet and has sold 6.2 million square feet. For more information, visit www.vanderbiltop.com.

About Marcus Partners

Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is based in the Financial District of Boston, with regional offices in Metro New York City and Metro Washington D.C. The firm focuses on strategic and opportunistic investment strategies across residential, industrial, biomedical, medical office, office, and mixed-use properties where it can create value and maximize risk-adjusted returns. Its current portfolio includes approximately 7 million square feet of commercial real estate along the East Coast.  For more information please visit www.marcuspartners.com.

An image of 3170 and 3180 Fairview Park is here.

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