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U.S. government buys Defense Health Agency HQ for $285 million
The deal covers a 44-acre campus at 7700 Arlington Boulevard in Falls Church, with about 686,000 square feet across three office buildings, and aims to replace a 15-year lease signed in 2010.
The U.S. government has acquired the Defense Health Agency’s Northern Virginia headquarters for $285 million, according to Commercial Observer, expanding the federal real estate portfolio with a large leased office campus.
The Naval Facilities Engineering Systems Command purchased the 44-acre property at 7700 Arlington Boulevard in Falls Church from longtime owner GBA Associates, the outlet said, citing property records and a General Services Administration official.
The campus includes three Class B office buildings built between 1954 and 1984, totaling about 686,000 square feet, plus a separate parcel with 2,000 parking spaces. A separate parking and office expansion plan filed in 2018 did not move forward.
Commercial Observer said the Defense Health Agency has occupied the site since 2011 and signed a 15-year, $370 million lease in 2010. Buying the property rather than leasing is expected to save the federal government several million dollars per year, supporting an effort to reduce federal lease obligations.