 |
| Hernsdon Metro Plaza 1 and II, 196 and 198 Van Buren Street, Herndon, VA |
 |
| Stephen Conley |
WASHINGTON, DC, June 6, 2016 – Holliday Fenoglio Fowler, L.P.
(HFF) announced today that it has closed the $44.5 million sale of Herndon Metro Plaza I and II, a
two-building, 201,272-square-foot, Class A office property situated immediately
adjacent to the future Herndon Metrorail Silver Line Station in Herndon,
Virginia, a suburb of Washington, D.C.
HFF marketed the property
on behalf of Brandywine Realty Trust and procured an institutional investor to
purchase the asset. The asset was sold
free and clear of existing debt.
Located at 196 and 198 Van
Buren Street, Herndon Metro Plaza I and II overlook the Dulles Toll Road,
providing exceptional signage opportunities for the 330,000 cars that pass the
property on a daily basis.
This location also has
outstanding regional connectivity by way of the Fairfax County Parkway, Routes
28 and 7, and the Washington Beltway (I-495), all of which are within close proximity.
Additionally, Washington Dulles International
Airport is located approximately three miles from the property. The four-story properties are 91 percent
leased overall and offer parking for 663 vehicles in a mix of surface and
structured spaces.
 |
| Jim Meisel |
The HFF investment sales
team representing the seller was led by Andrew Weir, Stephen Conley, Jim
Meisel, Dek Potts and Matt Nicholson.
“The arrival of the Silver
Line has been transformational for the Dulles Corridor, as tenants migrate to
office properties surrounding existing and future Silver Line stations, driving
strong positive absorption, decreasing vacancy rates and providing impressive
rent growth,” said Andrew Weir,
senior managing director at HFF.
“Herndon Metro Plaza I and II are uniquely
positioned to capitalize on this, with the asset’s rollover profile ideally
concentrated in the time period surrounding the planned opening of Phase II of
the Silver Line.
"The asset will also be
one of only 15 properties on the Toll Road with immediate walkability to a
Silver Line Metrorail station.”
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
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
No comments:
Post a Comment