Newmark announces the sale of 8111 Gatehouse Road in Fairfax County, VA on behalf of an affiliate of Equus Capital Partners, Ltd, one of the nation’s leading developers and private equity real estate fund managers. The building measures 282,542 square feet and was purchased for $52,000,000 by an undisclosed buyer.
“With 92 percent of the building leased, 8111 Gatehouse Road provides solid cash flow, strong credit tenancy and a centerally located in the heart of Merrifield’s new mixed-use Gallows Road Corridor,” said James Cassidy, Newmark Executive Managing Director. “It also offers convenient access to major roads in Northern Virginia and public transportation.”
8111 Gatehouse is a compelling value proposition for tenants given its timeless design and recent $7 million capital in improvements, including an onsite fitness center and locker rooms, a completely renovated lobby, common corridors, daycare, and underground secured parking. The property’s location in the Gallows Road Corridor gives tenants easy access to an abundance of retail, restaurant and entertainment options as well as to the Dunn Loring-Merrifield Metro station.
8111 Gatehouse is proximate to the 117-acre world-class INOVA Center for Personalized Health and the 44-acre Defense Health Agency campus.
Newmark’s Executive Managing Directors James Cassidy and Jud Ryan facilitated the sale.
About Equus Capital Partners, Ltd.
Equus Capital Partners is one of the nation’s leading developers and private equity real estate fund managers. Equus’ diversified portfolio consists of office, multi-family, industrial, and retail properties located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Chicago, Los Angeles, Washington D.C., Atlanta, and Raleigh-Durham. For additional information, please visit the company’s website at www.equuspartners.com.
For additional information on the company, please contact:
Christopher J. Locatell, Senior Vice President, 215.575.2349.
For additional information on the property, please contact:
Keith Knight, Vice President, 703.621.2568.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com
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