Grosvenor Americas acquires 120,000 SF medical office building in Fairfax, VA

Grosvenor Americas (GA) has acquired a 120,000 square foot medical office building in the Merrifield area of Fairfax, VA for approximately $43 million.

6th August 2012

Grosvenor Americas (GA) has acquired a 120,000 square foot medical office building in the Merrifield area of Fairfax, VA for approximately $43 million.

Located at 3023 Hamaker Court, minutes from the new amenity-rich Merrifield Town Center and Dunn Loring Metro station, the property includes a seven-story parking structure and adjacent land entitled for development of a second 120,000 SF building. The seller was The Long Companies of Middleburg, VA, which developed the building in 2009.

3023 Hamaker Court is 75 percent leased to a strong list of medical service providers led by Children’s National Medical Center. Four other medical practices are located in the building.

“This is an excellent acquisition for Grosvenor Americas due to the building’s exceptional quality and access, including substantial parking, as well as its prestigious tenants and proximity to INOVA Fairfax, one of the country’s best hospitals,” remarked Scott Brody, Vice President, Investments and General Manager of Grosvenor Americas’ Washington, DC office. “The only new medical office building to be built in this submarket in the last decade, 3023 Hamaker is a best-in-class property. We look forward to leasing up the balance of the building’s space to additional medical practitioners whose specialties complement those of our existing tenants.”

With US offices in Washington, DC and San Francisco, Grosvenor Americas has a portfolio of approximately 1.6 million SF of office, retail, and hotel space in the Washington, DC metropolitan area. Grosvenor Americas’ US portfolio of about 3.8 million SF is concentrated in five major markets: Washington, DC, San Francisco, Los Angeles, Seattle, and Chicago.

ENDS

For more information contact:
Naomi Curtis/Sorrel Basher, Press Office
Grosvenor
020 7312 6479/6101
pressoffice@grosvenor.com

Notes to Editors

Grosvenor is a privately owned property group with offices in 18 of the world’s most dynamic cities. The Group operates and invests in three different business areas; direct proprietary investment in real estate through our Operating Companies in Britain & Ireland, the Americas and Asia Pacific; indirect proprietary investment in real estate managed by others, which is the responsibility of the holding company; and our international fund management Operating Company - Grosvenor Fund Management - which manages capital on behalf of investors. As of December 31, 2011, the Group had total assets under management of US$19.4bn. Unusual for a private company, Grosvenor publishes a full Annual Report & Accounts, available at: www.grosvenor.com.

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