{"id":27417,"date":"2020-04-15T14:45:41","date_gmt":"2020-04-15T12:45:41","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=27417"},"modified":"2020-04-16T13:41:27","modified_gmt":"2020-04-16T11:41:27","slug":"falls-church-office-52-million","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/falls-church-office-52-million\/","title":{"rendered":"Equus-Owned Falls Church Office Fetches $52 Million in Sale Arranged by NKF"},"content":{"rendered":"

Last week, Philadelphia-based Equus Capital Partners finalized the sale of its 274,690-square foot Falls Church office space<\/a>. The six-story building at 8111 Gatehouse Road<\/a> went for $52 million \u2015 or $189 per square foot \u2015 in a deal arranged by Newmark Knight Frank\u2019s James Cassidy and Jud Ryan before the current lockdown.<\/p>\n

The buyer is MTR Capital Group, a company led by Michael Tabacinic, son of Moris Tabacinic, co-founder of NCH Capital. In addition to being prominent investors throughout Russia and Eastern Europe, the Tabacinics also recently partnered with spec home developer Felix Cohen and his son to build a $40-million waterfront mansion on Miami Beach\u2019s North Bay<\/a>.<\/p>\n

\"Falls

8111 Gatehouse Road, Falls Church<\/p><\/div>\n

Built in 1973, the Class B office on Gatehouse Road is part of the Gallows Road Corridor. It\u2019s conveniently situated near an assortment of retail, restaurant and entertainment venues, as well as the Dunn Loring-Merrifield Metro station. The office space has 40,000-square-foot, column-free floor plates and is currently 92% leased. Plus, given the freezing effect that the present lockdown is having on many businesses, its tenant roster<\/a> is especially strong. It includes essential services like those provided by healthcare non-profit Inova, the GSA and USPS.<\/p>\n

The property had previously changed hands in 2006 for $43.5 million in a short-term sale leaseback from the American Red Cross. By 2009, Equus \u2015 then operating under the name BPG Properties \u2015 had completed a $7 million renovation of the building<\/a>. The project included changes to the main lobby, elevators and restrooms, as well as building system upgrades. On-site amenities include a fitness center and locker rooms, daycare and secured underground parking.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, Philadelphia-based Equus Capital Partners finalized the sale of its 274,690-square foot Falls Church office space. The six-story building at 8111 Gatehouse Road went for $52 million \u2015 or $189 per square foot \u2015 in a deal arranged by Newmark Knight Frank\u2019s James Cassidy and Jud Ryan before the current lockdown. The buyer is…<\/p>\n","protected":false},"author":56,"featured_media":27420,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-27417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nEquus-Owned Falls Church Office Sells for $52 Million - CommercialCafe<\/title>\n<meta name=\"description\" content=\"The property had previously changed hands in 2006 for $43.5 million in a short-term sale leaseback from the American Red Cross.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/falls-church-office-52-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equus-Owned Falls Church Office Fetches $52 Million in Sale Arranged by NKF\" \/>\n<meta property=\"og:description\" content=\"The property had previously changed hands in 2006 for $43.5 million in a short-term sale leaseback from the American Red Cross.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialcafe.com\/blog\/falls-church-office-52-million\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialCafe\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-15T12:45:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T11:41:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialcafe.com\/blog\/wp-content\/uploads\/sites\/10\/office-building-windows-closeup.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Sabau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Diana Sabau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialcafe.com\/blog\/falls-church-office-52-million\/\",\"url\":\"https:\/\/www.commercialcafe.com\/blog\/falls-church-office-52-million\/\",\"name\":\"Equus-Owned Falls Church Office Sells for $52 Million - 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