Northmarq has successfully sold Scotts Run, a prime development opportunity in Tysons, Virginia for $18.5 million. The property consists of 447 fully approved high-rise units and is part of the larger Scotts Run master development project.
The Mid-Atlantic Investment Sales Team at Northmarq, led by Chris Doerr and including members Will Harvey, Shack Stanwick, Ari Azarbarzin, Anthony Pino,
Matt Straughan Jack Brocato and Meg Carter played a crucial role in completing this transaction. According to Doerr: “Tysons is an extremely attractive market for investors due to its strong rent growth rates and high barriers-to-entry.”
The 1.3-acre site is fully designed with plans for a 25-story concrete construction featuring studio to three-bedroom floorplans as well as retail space totaling 15,207 square feet. Its location offers convenient access to various retailers such as Tysons Corner Center and Tysons Galleria shopping malls within walking distance.
Additionally,the property sits directly across from Capital One’s recently completed headquarters spanning over 4.9 million square feet.
This sale marks another successful venture for Northmarq’s Mid-Atlantic team in the highly sought-after market of Tysons.
