Springfield’s 7741 Southern Drive, a 61,700-square-foot flex property that has been occupied by Cox Communications and its predecessors since it was built in 1993, has sold.
Andrew Fallon and Philip Wellde of SRS Real Estate Partners brokered the sale, which generated 10 offers from around the country. In a statement, they said this interest pointed to Northern Virginia’s rent growth and high occupancy, which have made it attractive to private investors, many of whom have been sitting out deals in urban markets during the recent real estate turbulence.
“The buyer response on this asset was overwhelming given the current market conditions, but the fundamentals of the deal and property type in a high-barrier-to-entry market proved to be in great demand,” Fallon said in the statement.
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