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 2021; converting the property to a Class ‘A’ medical office building.
• Fully leased to medical office tenancy within 1 year from completion, with 85% of the building leased to Medstar – one of the D.C. region’s preeminent health systems.
• $43-$45 rental rates being achieved; which is up from ~$33 at the time of acquisition.
• Adjacent to 6849 Old Dominion; combines to aggregate 3.25-acres of contiguous future developable land.