Press Releases
Marcus & Millichap Arranges $7.85M Sale of Industrial Property in Springfield, Virginia
April 10, 2025
SPRINGFIELD, Va., April 10, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 7942 Cluny Ct., a 39,243-square-foot industrial property in Springfield, Virginia. The property sold for $7,850,000.
“The Springfield industrial market continues to demonstrate exceptional fundamentals, driven by its proximity to major transportation corridors and sustained demand for small-bay industrial space,” said John Faus, senior associate. “This transaction reflects the ongoing strength and resiliency of the submarket, and the buyer plans to leverage their operational expertise while benefiting from the property’s strong cash flow and stable tenancy.”
Faus and Bryn Merrey, investment specialists in Marcus & Millichap’s Washington, D.C. office, had the exclusive listing to market the property on behalf of the seller, PRI Corporation, and procured the buyer, JKP VA LLC.
Situated on 2.21 acres at 7942 Cluny Ct., the property was built in 1979 and is located within the Fullerton Road Industrial Park, minutes from Interstate 95 and the Capital Beltway. The small-bay flex/industrial asset features ideal unit sizes with a combination of drive-in and dock loading options. Positioned in a high-demand submarket with a 98.8% occupancy rate, the property benefits from consistent leasing activity and proximity to Washington, D.C.
“The Springfield industrial market continues to demonstrate exceptional fundamentals, driven by its proximity to major transportation corridors and sustained demand for small-bay industrial space,” said John Faus, senior associate. “This transaction reflects the ongoing strength and resiliency of the submarket, and the buyer plans to leverage their operational expertise while benefiting from the property’s strong cash flow and stable tenancy.”
Faus and Bryn Merrey, investment specialists in Marcus & Millichap’s Washington, D.C. office, had the exclusive listing to market the property on behalf of the seller, PRI Corporation, and procured the buyer, JKP VA LLC.
Situated on 2.21 acres at 7942 Cluny Ct., the property was built in 1979 and is located within the Fullerton Road Industrial Park, minutes from Interstate 95 and the Capital Beltway. The small-bay flex/industrial asset features ideal unit sizes with a combination of drive-in and dock loading options. Positioned in a high-demand submarket with a 98.8% occupancy rate, the property benefits from consistent leasing activity and proximity to Washington, D.C.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
