Northmarq’s Mid-Atlantic team completes $18.5 million sale of Scotts Run development in Tysons, VA

TYSONS, Va. (Nov. 21, 2024) — Northmarq’s Mid-Atlantic Investment Sales Team consisting of Chris Doerr, Will Harvey, Shack Stanwick, Ari Azarbarzin, Anthony Pino, Matt Straughan, Jack Brocato and Meg Carter successfully completed the $18.5 million sale of Scotts Run, a fully approved, 447-unit high-rise development opportunity located in Tysons, Virginia.

“Northern Virginia’s stable market fundamentals continue to drive the Washington, D.C. region’s investment activity, exemplified by the Scott Run transaction," Doerr said. "Nation leading rent growth, solid for-sale home prices and high barriers-to-entry make submarkets like Tysons extremely attractive to investors."

Situated in Northern Virginia’s Tysons submarket, the fully-designed project is part of the Scotts Run master development — a 40-acre, 6.5 million-square-foot project featuring an array of multifamily, office, hotel and retail use. The 1.3-acre Scotts Run site is fully approved for a 25-story, Type I, concrete construction with 447 units and 15,207-sq.-ft. of retail space.

The project is planned to feature studio, one-, two- and three-bedroom floorplans. Strategically situated at the intersection of Interstate 495 and Chain Bridge Road, Scotts Run is just steps from the McLean Metro Station (Silver Line) and provides direct access to nearby hubs including Reston, Herndon, Dulles International Airport, Arlington, and Downtown Washington, D.C.

Additionally, the project is located within walking distance of numerous retailers, including two shopping malls, Tysons Corner Center and Tysons Galleria, and is directly across from Capital One’s recently delivered 4.9 million-square-foot headquarters.