Newmark announces the sale of Dominion Square’s 12-acre eastern parcel for $60,200,000, which has full Conceptual Development Plan (CDP) approvals for 2M square feet of office, residential, hotel and retail development. Dominion Square represents one of the last premier development sites at a Silver Line Metro station in Tysons.
Newmark transacted the sale on behalf of Capital Automotive Real Estate Services Inc., a McLean, VA based financial holding company.
“Located at the doorstep of the Spring Hill Metro, Dominion Square represents a generational development opportunity with market-making potential in Tysons, a premier submarket of Washington, DC” said Jud Ryan, executive managing director, Newmark. “The sellers have already secured full CDP approval and as a result, the new owner knows exactly what parameters they are fully approved to work within as they design their unique vision for the future Dominion Square development.”
Newmark’s Executive Managing Directors Jud Ryan, James Cassidy and Mark Anstine and Senior Managing Director Dan Lockard represented Capital Automotive.
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.
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