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NKF Completes Sale of Lakeview East & West in Ashburn, VA for $46.5 Million

Washington, DC (02/11/2020)

9:30 AM

Newmark Knight Frank (NKF) announces the sale of 20130 and 20135 Lakeview Center Plaza in Ashburn, VA on behalf of MRP Realty. Known as Lakeview East & West with a total of 204,129 square feet, the two Class A buildings were purchased for $46.5 million by Innovatus.

"The Northern Virginia suburbs continue to attract institutional capital looking to capitalize on the region's growing technology and defense sectors," said Jud Ryan, Executive Managing Director at NKF. "Lakeview East & West are considered two of the nicest assets in Ashburn and the expanding walkable amenity base should ensure future demand in this dynamic submarket."

Built in 2009, Lakeview East & West are two of the highest-quality office buildings in the Ashburn market featuring nine-foot finished ceilings, highly-efficient and virtually column-free floorplans, a fitness center with showers, walkable retail amenities, prominent visibility along Route 7 and an exceptional lakefront setting.

Lakeview East & West are well located at the intersection of Route 7 and Loudoun County Parkway minutes from the Dulles Toll Road and Dulles International Airport. Loudoun County has seen significant office demand growth in the last few years as Northern Virginia's technology, cyber security and defense sectors have surged. This location also offers easy access to the Loudoun County Entertainment District.

Newmark Knight Frank's Executive Managing Directors Jud Ryan and James Cassidy represented MRP Realty.

About Newmark Knight Frank
Newmark Knight Frank ("NKF"), 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, NKF's 18,000 professionals operate from approximately 480 offices on six continents. NKF'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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Newmark Knight Frank
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