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Paula C. Squires// May 9, 2016//
Gyrodyne LLC, a New York-based owner and manager of real estate properties, has completed the sale of its Fairfax Medical Center in Fairfax for $14 million, or about $243.23 per square foot. The buyer was JAG Associates LLC, a Virginia limited liability company.
Fairfax Medical Center includes two office buildings situated on 3.5 acres with 57,621 square feet of rentable space.
Gyrodyne's predecessor, Gyrodyne Company of America Inc., acquired the center in 2009 for a $12.8 million (or $224 per square foot), of which $4.8 million was paid in cash and $8 million was financed.
