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Lexington Herndon Sold NEC America Building for $23.8M

Private Investor Acquires 102,000 SF at 14040 Park Center in Herndon, VA
By Greg Stovall
September 19, 2005 | 3:56 P.M.

The property at 14040 Park Center Road in Herndon, VA sold to an undisclosed buyer for $23.8 million, or about $233.50 per square foot. The seller, Lexington Herndon LLC sold the property at a 100% occupancy rate. Lexington Herndon originally bought the property from NEC America Inc. as a sale-lease back transaction in 1999. The property is a three-story, 102,000-square-foot Class B building. It was built in 1987 by NEC America Inc., a $1.2 billion subsidiary of the Tokyo-based NEC Corp. The building’s major tenant is NEC America, but Calusa and SteelCloud sublease space from NEC America Inc. Andy Stape, Bob Filley, Joe Friedman and Caulley Deringer of Transwestern Commercial Services brokered the sale between the buyer and the seller.

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News | Lexington Herndon Sold NEC America Building for $23.8M