Newmark Arranges $56.25 Million Sale of Ballston Office Building for Rithm Capital, GreenBarn Investment Group and FarmViewVentures LLC
Newmark has arranged the $56.25 million sale of 4075 Wilson Boulevard, a 188,014-square-foot Class A office property in Arlington, Virginia's Ballston submarket. The sellers — Rithm Capital, GreenBarn Investment Group and FarmViewVentures LLC — sold the asset to Piedmont Realty Trust Inc. at an implied price of approximately $299 per square foot.
Newmark Capital Markets Executive Managing Directors Jud Ryan and James P. Cassidy, along with Vice President Grant Marley, represented the sellers in the transaction.
A Rare Round-Trip Office Investment
The sellers acquired 4075 Wilson Boulevard in September 2024 for approximately $27.6 million, or roughly $146 per square foot. The 2026 sale price of approximately $299 per square foot represents an increase of about 104% in price per square foot before accounting for capital expenditures, leasing costs, financing and selling costs.
"4075 Wilson Boulevard represents the first-round trip office investment during the current office cycle thanks to ownership's successful repositioning strategy in one of our region's most vibrant submarkets," Ryan said. "The transaction reflects continued investor demand for well-positioned assets with durable tenant rosters and compelling long-term fundamentals."
Following the September 2024 acquisition, the ownership group executed more than 90,000 square feet of new leasing — representing approximately 48% of the building's total area — and invested more than $6 million in capital improvements. Upgrades included a newly delivered tenant amenity center with conference facilities, a tenant lounge and golf simulator, as well as an upgraded lobby and a renovated rooftop terrace.
Tenant Roster and Retail Component
The building's office tenant roster includes Nalej Corporation, KnowBe4, Systems Planning & Analysis and OpenText Public Sector, among other government contractors, technology companies and professional services firms. The property's ground-floor retail is fully leased to Sweetgreen, Grazie Nonna, Van Leeuwen Ice Cream and Pinnacle Bank.
The asset sits within Ballston's established defense and technology ecosystem, near major government agencies and contractors including DARPA and the Office of Naval Research. Its location at Wilson Boulevard and North Randolph Street places it directly across from Ballston Quarter and near the Ballston Metro station, with access to Interstate 66 and Route 50.
Ballston Market Context
The transaction closed against a challenging broader office backdrop. Northern Virginia's overall office vacancy reached 24.0% in the first quarter of 2026, up 20 basis points quarter over quarter and 90 basis points year over year. Ballston contained approximately 7.45 million square feet of office inventory, including roughly 1.94 million square feet of vacant space, for a reported vacancy rate of 27.6%.
Average market rent in Ballston was approximately $45 per square foot, with a broader reported range of $27.50 to $58.00 per square foot. The implied sale price of approximately $299 per square foot reflects the building's repositioning, leasing progress, amenity package and strategic location.
The sale illustrates a growing differentiation in the office investment market between commodity inventory and well-capitalized, amenity-rich assets near transit and established retail districts. Institutional capital has shown a willingness to pay a premium for properties with demonstrated leasing momentum, government- and technology-oriented tenancy and modernized common areas, even as marketwide vacancy across Northern Virginia remains elevated.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisory and services firm. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of June 30, 2026, Newmark and its business partners operated from over 195 offices with more than 10,000 professionals across four continents.
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