WASHINGTON, D.C. – HFF announced today that it has closed
the sale of Northpointe B & C, a two-building, 83,086-square-foot
industrial property in Dulles, Virginia.
 |
| Bruce Strasburg |
HFF marketed the property on behalf of the seller, Velsor
Properties, LLC. The property sold for
$9.625 million free and clear of debt.
Northpointe B & C are located at 44901 and 44931 Falcon
Place adjacent to Dulles International Airport and proximate to Dulles Toll
Road (Route 267) and Route 28.
Situated
less than one half of a mile from Dulles International Airport’s cargo
entrance, the buildings are 87 percent leased to a diverse tenant base
including The Richards Corporation.
 |
| Samuel Fagelson |
The HFF investment sales team representing the seller was
led by senior managing director Bruce Strasburg and real estate analyst Samuel
Fagelson.
“Investors were attracted to Northpointe because it offered
the opportunity to acquire a well-leased property with a strong tenant base in
immediate proximity to Dulles Airport’s cargo entrance.
"Combined with the capital markets imbalance
of scarce supply and strong demand for well-located assets, Northpointe
attracted substantial interest from the investment community,” commented
Strasburg.
 |
| Dulles International Airport, Main Terminal |
Founded in 1997, Velsor Properties, LLC is recognized as one
of the fastest growing real estate ownership companies in the metropolitan
Washington, D.C. area.
Velsor, through
its affiliates, owns and manages 53 industrial, flex and office buildings in
Northern Virginia and Maryland. As of
January 2013, Velsor owns and manages more than three million square feet of
property.
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 | www.hfflp.com
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