Tuesday, November 18, 2014

Why ABC Imaging is buying a building in Fairfax Co. it hoped it wouldn't need

This article, authored by Daniel J. Sternovitz, Staff Reporter, Washington Business Journal, was published  on Nov 10, 2014 and was updated on Nov 11, 2014:

Medi Falsafi isn't someone who leaves a lot to chance.

And so, when his landlord at the Lafayette Center in downtown D.C. walled off the interior, open-air atrium facing his offices in the building's basement to install a fitness center to accommodate another tenant two years ago, Falsafi came to an important conclusion: In order to control its own destiny, ABC Imaging needed its own building rather than continuing to be a tenant in another landlord's property.

No, this isn't the classic anecdotal lede to an owner-occupied building sale, though that's certainly part of it. In October, Falsafi signed a contract to acquire a building in Fairfax County's Alexandria section for $6.2 million and is planning to close on the acquisition of 5920 Shawnee Road in January.

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