CHANTILLY,
VA and STERLING, VA – American Realty Advisors, an institutional real estate
investment manager with nearly $7 billion in assets under management, has
acquired a 100 percent-leased Class A industrial portfolio totaling 453,883
square feet in Virginia.
The
portfolio consists of two industrial buildings located within master-planned
business parks in close proximity to the Dulles International Airport and
Washington D.C.’s major roadways, according to Eric Cannon, Senior Director, Investment Group at American Realty
Advisors.
“This region
is experiencing strong positive net absorption, low vacancy, and continued rent
growth, which is consistent with American’s research-driven investment strategy
to source and acquire functional in-fill, multi-tenant industrial in
well-located supply-constrained markets,” says Cannon.
 |
| James Cassidy |
American
Realty Advisors plans to implement a series of improvements to the properties
that will increase the portfolio’s overall physical condition and curb appeal
to maintain a high level of occupancy.
“Through our
strategic and aggressive asset management process, American will be able to
realize increasing cash flow over time and deliver predictable current yields
to its investors over a long-term hold period,” says Cannon.
The
two-property industrial portfolio is located at 3900 Stonecroft Boulevard in
Chantilly, VA, and 45110 Ocean Court, in Sterling, VA.
The seller,
an institutional investment management firm, was represented by James Cassidy
of DTZ’s Washington D.C. office.
For a complete copy of the company’s
news release, please contact:
Lexi Astfalk
/ Jenn Quader
Brower,
Miller & Cole
(949)
955-7940
No comments:
Post a Comment