ING Clarion Partners Acquires Office Property in Falls Church, VA for $90 Million

NEW YORK, NY, Jan. 26, 2011 – ING Clarion Partners LLC, a leading real estate investment advisory firm, has acquired 3150 Fairview Park, a Class A, eight-story office building in Falls Church, Virginia for $90 million, it was announced today.

 The acquisition was made on behalf of a commingled fund managed by the firm.

The 252,000 square foot property is located in Fairview Park, Northern Virginia’s only trophy quality office park, at the intersection of I-495 and Route 50, just south of Tyson’s Corner.

(Fairview Park Drive, middle left photo)

It was completed in 2001 as a build-to-suit for Noblis Systems, a scientific and research systems engineering organization. Noblis is currently the building’s sole tenant with a lease that runs through January 2017.

The building features a conference center, childcare facility, and on-site parking in a three-level structured parking garage, among other amenities. The Park itself includes hotels and restaurants.

“The resilience of the local economy in the Northern Virginia – Washington, D.C. submarket has been demonstrated again through the most recent economic downturn,” said Marc DeLuca (top right photo), Director at ING Clarion.

“This resilience provides strong support for the area’s office market and is particularly important to outstanding properties like Fairview Park.”

Fairfax County is one of the nation’s wealthiest and fastest growing counties, fueled in part by the presence of multiple technology industries that provide diversification to a local economy in which the federal government plays a significant role.

These companies are in turn supported by access to the region’s large, highly skilled workforce and by the presence of research and other technology support firms, including venture capital.

Tenants within Fairview Park have excellent access to local transportation links, including Route 29, I-66, and the Dulles Toll Road in addition to I-495.

The property is within two miles of the Dunn-Loring Metro Station, 12 miles of Reagan National Airport (lower left photo), and 19 miles of Dulles International Airport (lower right photo).

Founded in 1982, ING Clarion Partners and its affiliates manage $39 billion in assets in the private and public equity sectors of the real estate markets.

 ING Clarion is the Americas arm of ING Real Estate Investment Management, one of the world's leading real estate investment managers with global assets under management of more than $89 billion and operations in 20 countries.

 ING Real Estate Investment Management is part of ING Group, a global financial institution offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries.

More information about the firm is available at http://www.ingclarion.com/.

Press Contacts:

Mike MacMillan/Chris Sullivan, MacMillan Communications (212) 473-4442, mike@macmillancom.com

Meghana Kulkarni, MacMillan Communications, (212) 473 – 4442

meghana@macmillancom.com