Tutor Time Learning Center, LLC Building

Lee & Associates Maryland, a fully-integrated commercial real estate brokerage and management firm, has brokered the sale of a nearly two-acre parcel of land containing a 11,886 square foot building in the Ashburn section of Northern Virginia for $6.44 million. Separately, the firm brokered the sale of a 10,154 square foot building contained on 2.15 acres of land in College Park, Georgia in suburban Atlanta. The cumulative transaction value was $8.14 million.

Steve Weiss, Senior Vice President for Lee & Associates represented both individual buyers who were each satisfying 1031 Exchange requirements stemming from other property sales that Weiss had previously transacted on their behalf.

Tutor Time Learning Center, LLC occupies the Northern Virginia property under a long-term lease, while the Atlanta transaction has a long-term lease with HERC Rentals, the equipment leasing division of Hertz.

“The population growth occurring in this section of Northern Virginia is among the most prolific in the country,” explained Steve Weiss of Lee & Associates. “The Atlanta industrial market is experiencing extremely high demand and low vacancy rates, making it a very attractive investment market as well.”

This represents the eleventh sales transaction for Steve Weiss of Lee & Associates this year.

Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit www.leeassociates.com