Bisnow Scoop: Lerner Sells Two Office Buildings in Fairfax
Bisnow.com, February 15, 2016 | Ethan Rothstein, Bisnow DC
Lerner Enterprises has sold two office buildings near Fairfax City, Bisnow has learned and the developer has confirmed.
Lerner has sold One and Four Flint Hill, half of the Flint Hill Office Park the family company developed in 1982 (the two buildings on the bottom of the above Google Maps screenshot). The buyers are LLCs affiliated with a foreign buyer called A&A Real Estate. The properties are just off I-66.
One Flint Hill, a six-story, 127k SF office building, was renovated in 2013 and sold for $9.5M, according to Fairfax County land records. Four Flint Hill is a 160k SF building that currently houses General Dynamics, which is planning a move to the Dulles Toll Road for its own HQ in 2019. Four Flint Hill sold to the same buyer for $21.6M.
Lerner has now totally divested its interest in the office park after selling Two Flint Hill in 1984 and Three Flint Hill in 2009.
Bisnow.com, February 15, 2016