SRS Real Estate Partners announced today it has completed the $8.5 million acquisition of a single-tenant, 12,580-square-foot medical office building located at 20041 Riverside Commons Plaza in Ashburn, VA. Built in 2022, the property is fully occupied by OrthoVirginia, Virginia’s largest provider of orthopedic medicine and therapy.
SRS Capital Markets Executive Managing Director Andrew Fallon and First Vice President Philip Wellde Jr. represented the buyer, a Virginia-based private investor who was in a 1031 exchange and paid all-cash for the asset. The seller, and original developer of the property, was represented by Danny Booker, Rich Sillery, and Douglas Olson of Monument Retail.
“This asset offered our client the opportunity to own a corporate-guaranteed medical property occupied by a well-respected tenant under a long-term triple net lease,” said Fallon. “Properties like this provide passive, durable income for the ownership which is very attractive to private and 1031 exchange investors.”
“After an exhaustive search and property evaluation process, the buyer decided that this was a great long-term investment based on the caliber of the tenant and quality of the location,” added Wellde.
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