Transwestern Arranges Sale of MedStar-Anchored Medical Office Building in McLean to Thomas Park

Transwestern's Mid-Atlantic Capital Markets Group has arranged the sale of MedStar Health Medical Center at McLean, a 47,185-square-foot Class A medical office building at 1420 Beverly Road in McLean, Virginia. Stewart Investment Partners sold the asset to Thomas Park Holdings for an undisclosed price, the firm announced Aug. 13, 2026.

Transwestern's Gerry Trainor, Jim Cardellicchio, and Rowan Miller represented Stewart Investment Partners in the transaction.

Property Overview

MedStar Health Medical Center at McLean is 100% leased, with MedStar Health occupying 85% of the building. The property was renovated in 2022 and features onsite covered parking. Located approximately 10 miles from Washington, D.C., the asset sits in one of the region's most affluent residential communities, where the median home price exceeds $2 million.

"The high quality of the location, tenancy and building combined to offer a core investment opportunity that generated significant buyer interest," said Trainor, Executive Managing Director at Transwestern.

McLean's residential base — which includes politicians, diplomats, members of Congress, and senior government officials — supports sustained demand for outpatient and specialty medical services in the submarket.

Thomas Park Deepens MedStar-Anchored Portfolio

The acquisition extends Thomas Park's presence in health-system-anchored medical office across the Washington-Baltimore corridor. The firm focuses exclusively on healthcare real estate and has built a portfolio concentrated in core and core-plus medical office buildings in dense, affluent suburban markets in the Mid-Atlantic and Northeast.

Thomas Park previously launched a $500 million joint venture with Artemis Real Estate Partners to acquire medical office buildings across the Mid-Atlantic and Northeast, seeded with three fully leased properties in Baltimore, Columbia, and Princeton. In 2026, the firm also acquired two medical outpatient buildings totaling approximately 127,868 square feet on the MedStar Montgomery Medical Center campus in Olney, Maryland, also anchored by MedStar Health.

The McLean transaction continues that pattern, adding another fully leased, MedStar-anchored asset in an affluent suburban node to Thomas Park's regional holdings.

Medical Office Outperforms Broader Market

The deal comes as medical office fundamentals in the Washington, D.C. metro diverge sharply from the broader office sector. Overall office vacancy across the DC metro stood near 17.5% as of early 2026, an all-time high. In Northern Virginia specifically, vacancy reached a peak of approximately 23.5% in mid-2024 before declining to around 21% by mid-2026 as tenants consolidated into higher-quality assets.

Medical office has tracked a markedly different trajectory. Vacancy in the DC metro medical office segment sits near 8.5% — roughly half the overall office vacancy rate — with net absorption of approximately 450,000 square feet over the prior 12 months. Average rents for medical office in the market run approximately $35 per square foot, with annual rent growth of 1.5% to 2%, compared with flat or slightly negative trends in general office.

Against that backdrop, fully leased, health-system-anchored assets in affluent suburban submarkets have attracted sustained investor interest, consistent with the buyer demand Transwestern cited for the McLean property.

About the Brokerage Team

Transwestern's Mid-Atlantic Capital Markets Group provides investment sales services across the metro Washington, D.C. market. Transwestern is a vertically integrated commercial real estate firm that owns, leases, and operates $64 billion in assets across 35 offices nationwide, spanning property types including healthcare, office, logistics, multifamily, retail, mixed-use, data centers, hotel, sports and entertainment, and life sciences.

Sources: Transwestern press release, Aug. 13, 2026