Mark Center Office Building Sold for $71.7 Million

(Updated 2/11) One of the prominent office buildings in the Mark Center, 2001 N. Beauregard, has been sold for $71.7 million to a Mexican real estate investment firm..

The Mark Center is a West End office park that served as a hub for Department of Defense offices before 2005 Base Realignment and Closure forced many of those offices to relocate to more secure facilities.

The press release from real estate company Newmark, which represented seller G8 Capital, didn’t say who purchased the building, but records indicate the buyer is Mexican real estate investment company Grupo Haddad.

“Investors are attracted to Northern Virginia real estate due to the underlying strength of the market as the vaccine begins to roll out and a reoccupation is on the horizon,” said James Cassidy, one of Newmark’s executive managing directors in a press release. “Investor appetite for mid- to long-term leased assets has remained strong throughout the pandemic. With a single tenant and nearly eight years of remaining term on the full building, 2001 North Beauregard attracted significant attention.”

The office is 239,945 square feet over 12 floors and is currently leased to Systems Planning and Analysis, Inc.

Photo courtesy Newmark