Saturday, December 12, 2015

HFF closes sale of GSA-anchored office property in Herndon, VA

Herndon Square, 510 Spring Street and 535 Huntmar Park Drive, Herndon, VA

Bruce Strasburg
WASHINGTON, DC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Herndon Square, a two-building, 120,696-square-foot office property in Herndon, Virginia. 

HFF represented the seller in the transaction.  Crilley Warehouse, a private investor, purchased the assets for an undisclosed amount. 

Herndon Square consists of 510 Spring Street and 535 Huntmar Park Drive, which together sit on 10.38 acres in the heart of the Dulles Technology Corridor, about 23 miles from Washington, D.C.

 This location provides easy access to the Dulles Toll Road (Route 267), the future Herndon Metro Station (eta 2020), Washington Dulles International Airport, Reston Town Center and Tysons Corner. 

Dek Potts
Completed in 1999, Herndon Square is 94 percent leased to six tenants, including the General Services Administration, Black Box Network Services and Inovalon, Inc.  510 Spring Street is a two-story, 60,275-square-foot facility. 

535 Huntmar Park Drive is a 60,421-square-foot, single-story facility with on-site data center infrastructure leased in its entirety to the GSA. 

The HFF investment sales team representing the seller was led by senior managing directors Bruce Strasburg and Dek Potts.

“This was an outstanding opportunity for an investor to acquire two high-quality D.C. metro office buildings that are well leased to an exceptional GSA and regional tenant roster,” said Strasburg.  “The attractive in-place cash flow is secured by a critical area amenity infrastructure with a central location in the rapidly redeveloping Metro Silver Line Corridor.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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