Richmond, VA – April 15, 2020 – Colliers International is pleased to announce the sale of 50 Tech Parkway at 50 Tech Parkway, Stafford, Virginia for $14,725,000.
50 Tech Parkway, a 94,064 SF, Class A office building is part of the NSCBT three-building office park adjacent to Quantico Marine Corp Base. The asset is in a strategic and highly desirable location for United States of America defense related agencies and defense contractors, as evidenced by the property’s 94.5% occupancy, with anchor tenancy by United States government, BAE Systems, and Space Dynamics Laboratory, and 3.7 year weighted average lease term.
“50 Tech Parkway is a market leading, Class A office investment located along the northern Virginia I-95 office corridor providing highly attractive government centric tenancy and an excellent mark-to-market rent upside opportunity” said Will Bradley, Executive Vice President at Colliers International.
Will Bradley, Executive Vice President, Mark Williford, Vice President, and Lee Cherwek, Vice President, represented the seller.