Willow Oaks is a three-building office park conveniently
located in the epicenter of Merrifield’s booming healthcare sector, with easy
access to the Inova Behavioral Health Center, the Northern Virginia Hospital,
the Pediatric Specialists of Virginia and more. Additionally, the building
offers a shuttle to Dunn Loring Metro and TRICARE. Willow Oaks offers tenants a
solid combination of price, location, access and amenities. The three buildings
total 584,003 square feet and were recently renovated.
Willow Oaks is located near the intersection of two of
Northern Virginia’s busiest commuter routes in Route 50 and the Capital Beltway
(I-495). This location is attractive to large corporate tenants who do business
throughout Northern Virginia and the District of Columbia. Home of the National
Cherry Blossom Festival®, Merrifield offers residents access to the
ever-expanding Mosaic District, an urban village that is attracting some of the
region's most noted chefs, boutiques, and businesses.
“KBS is extremely pleased to welcome these new tenants to
the property,” said Stephen Close, senior vice president, acquisitions/asset
management for KBS and asset manager of the property. “The improvements and
amenities that we continue to build throughout the park are clearly resonating
with the local business community. We look forward to continuing successful leasing
efforts with office and medical tenants alike and hope they all enjoy the
experience of doing business at the improved Willow Oaks Corporate Center.”
Willow Oaks offers a wealth of amenities including an
on-site café, tenant-only 138-seat conference room, fitness facility with
showers and lockers, on-site property management and engineering staff, ample
free covered parking and lower level storage. To keep Willow Oaks a best in
class experience a 3,000-sf deli with WiFi, extra seating and TVs was recently
added to the property along with a new quiet area for reading and relaxing. In
the third quarter of this year, tenants will enjoy access to a brand-new tenant
lounge complete with TVs, a fireplace, games and a bar area with a flavored
seltzer water dispenser. Additional upgrades have been made to the landscaping
and common corridors throughout all three buildings and the park.
“Northern Virginia is business-friendly attracting companies
such as Nestle and Amazon to move here; it’s clear Virginia values business and
job creation,” said Marc Deluca, regional president Eastern United States for
KBS. “We welcome the new tenants to our building, and we look forward to a long
and prosperous relationship.”
Steady demand for office space continued in the first
quarter of 2019, extending the market momentum built during 2018. Net
absorption during the quarter measured 633,028 sf, the highest quarterly total
recorded since first quarter 2018, according to the Northern Virginia Office
Market Report from Newmark Knight Frank. Northern Media Contacts: Chris
Sullivan MacMillan Communications (212) 473-4442 firstname.lastname@example.org Ginny
Walker Public Relations Manager 949-417-6535 email@example.com Virginia has now
posted two years of back-to-back positive net absorption - 590,171 sf in 2017
and 1,690,127 sf in 2018.
Mark Roberts of Savills Inc. represented Fairfax Radiological, Dan Brennan of Larsen Commercial Real Estate represented Right at Home and Jude Collins of Cushman & Wakefield represented Hardesty & Hanover. Wes Evans and Steve Hoffeditz of Newmark Knight Frank represented KBS.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including statements relating to KBS REIT II’s ability to invest in and manage a diverse portfolio, and the performance of Willow Oaks and of the Fairfax, Virginia real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT II’s and/or Willow Oaks actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.