Long & Foster Real Estate’s Commercial Division is pleased to announce the sale of a property located at 1311A Dolley Madison Boulevard in McLean, Virginia. The 16,756 square foot office building sold for $5M, which equates to $298.00 per square foot. Matthew Garcia and Erik Ulsaker of Long & Foster’s Commercial Division represented the seller in the transaction.
“The property has been owned by the original developer for the last 45 years, making this the first sale of the property since it was built in 1974,” said Garcia. “The building was 67% occupied at the time of sale and benefited from extensive capital improvements in the last few years. Downtown McLean has been developing a revitalization plan which is expected to increase density and encourage development, which has continued to foster demand in an affluent submarket in the shadows of Tysons Corner.”
Long & Foster’s Commercial Division is based out of Tysons, Virginia and has a focus on sales and leasing in the Washington, D.C. metropolitan area and throughout the Mid-Atlantic.
Long & Foster Real Estate is the nation’s No. 1 real estate company as part of HomeServices of America. For more information, visit longandfostercommercialrealestate.