Tavaco Properties Buys DMV Office for $29M – Commercial Observer
Tavaco Properties has added another discounted office property to its growing Greater Washington portfolio.
The Los Angeles-based firm paid $28.5 million for a 272,300-square-foot building in Falls Church, Va., Business Journals first reported. Hawaii-based James Campbell Company sold the 14-story property at 3110 Fairview Park Drive after acquiring it for $43.7 million in 2016.
Tavaco specializes in acquiring and optimizing underperforming assets, and the deal is its third D.C.-area office acquisition since late last year, totaling nearly $65 million.
In March, a Tavaco affiliate paid $8.2 million for the 100,900-square-foot Twinbrook Plaza in Rockville, Md., which is about half the $15.5 million that an MRP Realty affiliate paid in 2016. Tavaco also acquired the eight-story, 275,480-square-foot Ballston Station in Arlington for $28 million in late 2025. The State Teachers Retirement System of Ohio had acquired that property for $58.2 million about 30 years ago.
“We view Fairview, Ballston Station and Twinbrook Plaza as long-term additions to Tavaco’s portfolio,” Managing Director Sam Tavakoli told the Business Journals in a statement. He also added that the firm expects continued return-to-office trends to support demand for well-operated buildings.
Indeed, U.S. office visits rose 6 percent in the first half of the year, although on-site attendance remained 31 percent below 2019 levels.
James Campbell Company, meanwhile, has been reducing its national office exposure and concentrating more heavily on industrial assets.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
