1420 Beverly Road
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.