1420 Beverly Road

McLean, VA
The property was acquired in an off market transaction and quickly went under a major renovation in 2020 and 2021, converting the boutique office building into a Class “A” Medical Office Building.  The property is located in the heart of the retail and office corridor of McLean, VA.

 

  • Off-market acquisition of boutique office building in affluent, amenity-rich submarket of Northern Virginia.
  • Major renovation completed in 2020; converting the property to a Class ‘A’ medical office building.
  • Adjacent to 6849 Old Dominion; combines to aggregate 3.25-acres of contiguous future developable land.
  • $43-$45 rental rates being achieved; which is up from ~$35 at the time of acquisition.
Building Size

47,000 sf

Acquisition Source

Off-Market

Equity Partner

Chestnut

Acquisition Price

$12.7 M

Redevelopment

$3.4 M

Total Project Costs

$20 M

Exit Price

N/A

Date
Category
Commercial, McLean, VA