Marcus Partners has acquired Virginia-based office complex 3170 Fairview Park. No financial terms were disclosed. The seller is IT services provider CRSA, which will continue to occupy a “portion” of the building. No financial terms were disclosed.
BOSTON – November 6, 2017 – Marcus Partners, a value-oriented real estate investor, developer and operator, today announced the acquisition of 3170 Fairview Park, a 275,000 square foot Class A office complex formerly owned by CSRA, a leading provider of information technology services. Completed as a sale-leaseback, CSRA will continue to occupy a portion of the property, while leaving approximately 100,000 square feet available for lease.
Marcus Partners is planning a transformational capital improvement campaign at the property featuring the introduction of a next generation amenity package including a private fitness center, a headquarters quality café, a conference facility, and a unique, 100-seat stadium style auditorium. The campaign will also include the construction of a second office lobby designed by Gensler for a new tenant and modernization of the building common areas.
“3170 Fairview will offer a unique work environment that both fosters employee well-being and simultaneously offers the cutting edge technology and amenities you’d find in an urban office tower,” said Andrew Dolinsky, Regional Director of Marcus Partners’ Metro DC Office. “We look forward to a long-term partnership with CSRA and being in a position to offer what will be a truly unique asset to additional tenants in the marketplace.”
The acquisition follows the recent opening of Marcus Partners’ Metro DC office, led by Andrew Dolinsky. The firm’s on-the-ground presence was bolstered this summer by the addition of David Langol, a 28-year veteran of the DC market, and is further supported by Boston and Metro New York-based team members with deep experience in the region. Currently the team owns and manages over 800,000 square feet within the metro area. The firm plans to continue to grow its metro DC asset portfolio and its local team.
“Marcus Partners is a firm with a consistent, decades-long track record of exceeding expectations,” said Stephen Dunn, CSRA’s Director of Workplace Environments. “We’ve been impressed by their commitment to hands-on management, working creatively with tenants to help them meet complex needs, and always delivering on promises. Entrusting our headquarters to a third party was a significant decision but will enable us to offer employees a more modern, engaging, and collaborative environment.”
Leasing efforts at the property will be led by Ed Clark, Andrew Klaff, Stephen Hoffeditz, and Jeff Tarae of Newmark Knight Frank.
ABOUT MARCUS PARTNERS
Marcus Partners is a value-oriented real estate investor, operator and redeveloper based in Boston, Massachusetts, with additional offices in Metro New York and Metro Washington, D.C. The firm currently owns and manages a diversified portfolio that includes nearly 7 million square feet of office, medical office, research and development, and industrial properties located along the East Coast. Marcus Partners invests in real estate and related assets through its fully discretionary $250 million Marcus Capital Partners Fund II, L.P., pursuing a mix of strategic and opportunistic investment strategies. For more information about Marcus Partners, please visit www.marcuspartners.com.