Fifty West Corporate Center Phase 2 3975 Fair Ridge Dr 203 440 pi² 83% Loué 4-Étoile Bureau Immeuble Fairfax, VA 22033 38 777 750 $ CAD (190,61 $ CAD/pi²) 12,05% Taux de capitalisation

Acquire Fifty West Corporate Center (the “Property”), a 203,440-square-foot, five-story Class A office building situated on an 8.53-acre site at 3975 Fair Ridge Drive in Fairfax, Virginia. Originally developed in 1990 and recently renovated, the Property features institutional-quality construction, efficient 40,688-square-foot average floor plates, and a comprehensive amenity package designed to meet the needs of today’s office users.

Offered at $27,500,000, or approximately $135 per rentable square foot, the asset delivers an attractive 12.05% going-in cap rate based on underwritten net operating income (NOI) of approximately $3,312,533. Currently 79.5% leased, the Property provides strong in-place cash flow supported by a well-diversified rent roll, while also offering value-add potential through the lease-up of 41,791 square feet of available space across nine demisable suites, ideally sized to today’s demand for smaller footprints.

The Property has demonstrated proven income growth, with total income increasing 14.6% from 2023 to 2025 and net operating income rising 30.7% over the same period, reflecting strong operating performance and active management. Income is diversified across 23 traditional office tenants and 33 companies utilizing on-site flexible office suites, reducing concentration risk and enhancing long-term stability. The available space is configured for flexible leasing, with many suites capable of being demised into smaller units to accommodate evolving tenant demand trends.

Fifty West Corporate Center offers a total of 560 parking spaces, including a 400-space covered garage and 160 surface spaces at a ratio of 3.60 per 1,000 square feet, providing a competitive advantage for suburban office users. Positioned with direct access to Interstate 66 and Fairfax County Parkway, and adjacent to Fair Oaks Mall, which offers more than 160 retail and dining options, the Property benefits from a highly accessible, amenity-rich location. Its proximity to Washington Dulles International Airport further enhances convenience.

Located within one of Northern Virginia’s most established suburban office markets, the Property is supported by strong regional fundamentals driven by federal government, defense, and technology sectors, as well as the nation’s largest concentration of data center activity. This diverse economic base underpins sustained demand for office space and reinforces the asset's long-term investment potential.