Fair Oaks Plaza is a 180,000-square foot modernist office building strategically located near the Virginia Route 50 interchange with Interstate 66. As part of the TPGI merger into Parkway Properties, Inc. (NYSE: PKY) in late-2013, Coretrust founders acquired Fair Oaks Plaza’s borrower providing a pathway to recapitalize the asset. In 2014, Coretrust recapitalized the project with Normandy Real Estate Partners of Morristown, NJ. Normandy maintain all decisions controls with Coretrust sharing property management responsibilities with Normandy.
The Coretrust/Normandy partnership has completed a multi-million-dollar update of the main Building Lobby and lower level Café and has constructed a tenant-only Conference Center on the same floor. Fair Oaks Plaza continues to out-perform in the highly competitive Fairfax submarket due to its superior location, onsite amenities, refreshed design and attentive management.