Newmark has announced it has been selected as the exclusive advisor for the sale of Dominion Square in Tysons, VA. The 18-acre site is located directly adjacent to the Spring Hill Metro Station, currently the first eastbound stop on the Silver Line.
The site is approved for 3.6 million square feet of mixed-use development, comprises three separate parcels and is unaffiliated with a specific developer. The property includes terminable leases for four existing car dealership sites, offering built-in income and flexibility allowing investors to react strategically to demand.
Dominion Square represents a once-in-a-generation opportunity to shape one of the DC metro area’s premier submarkets. Located at the intersection of the I-495 Beltway and the Dulles Toll Road, Tysons is a major economic and employment hub,” explained Mark Anstine, executive managing director of land services at Newmark. “With the ongoing construction of the Silver Line slated to connect Dulles Airport to downtown Washington, DC in 2020, the area boasts a perfect combination of mass transit, new urbanized residential and retail development, drawing significant interest from regional and national companies.”
With approval now in place for more than 2 million square feet of office, 1.1 million square feet of residential, 185,000 square feet of retail and a 205,000-square-foot hotel, Dominion Square is poised to become an urbanized and amenitized scene where employees can live and play where they work. Since Tysons is the 12th largest office market in the United States headquartering numerous companies-including many of the Fortune 500, it boasts one of the country’s most highly-educated and diverse workforces.
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 16,000 professionals operate from approximately 430 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. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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