Mission-critical office complex in D.C. area trades

Plaza East office complex, 14291 and 14295
Park Meadow Drive

                                                  Chantilly, VA

 

  WASHINGTON, DC – JLL Capital Markets announced  it has closed the sale of Plaza East, a two-building, approximately 247,000-square-foot office complex located in Chantilly, Virginia.

Matt Nicholson

JLL represented the seller, a venture between affiliates of Rockpoint Group and MRP Realty, and procured the buyer, The Meridian Group. Additionally, JLL worked on behalf of the buyer to secure acquisition financing.

 Plaza East was built in 2007 and is fully leased to seven tenants with approximately nine years of weighted average lease term. The largest tenant in the complex is Perspecta, Inc.

 Located at 14291 and 14295 Park Meadow Dr., the complex is in the heart of the cyber-intelligence hub of the Westfields submarket.

Jim Meisel

This location offers immediate proximity to numerous federal demand drivers, including the National Reconnaissance Office, the FBI Cyber Division and CIA.

Additionally, the area boasts a robust amenity base of retail, dining and entertainment options along the Route 28 corridor.

 The JLL Capital Markets team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir and Dave Baker. Financing efforts for the buyer were led by JLL Capital Markets’ Paul Spellman and Dan McIntyre.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Andrew Weir

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 About Rockpoint

Rockpoint Group, L.L.C. (“Rockpoint”) is a real estate private equity firm and Registered Investment Adviser headquartered in Boston and with additional primary offices in San Francisco, Dallas and London.

 Dave Baker

Rockpoint employs a fundamental value approach to investing and targets select product types located in major markets in the United States.

Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs.

Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations.

Since 1994, Rockpoint’s co-founders with others have sponsored 15 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm. 

Paul Spellman 

In total, they have raised approximately $25 billion in capital commitments and invested or committed to invest in 426 transactions with a total peak capitalization of approximately $64 billion (inclusive of fund equity, co-investor equity and debt).

To learn more about Rockpoint Group, visit rockpoint.com.

 About MRP Realty

MRP Realty delivers a full array of real estate services, including acquisition and disposition, development and construction management, property management, asset management and financial reporting services.

Dan McIntyre

Since its inception in 2005, MRP has deployed $4.9 billion in total capitalization, an average of over $330 million per year. Its combined development assets total more than 25 million square feet, with an additional 10+ million square feet under management.

 About The Meridian Group

Over its 26-year history, Meridian has acquired over 14 million square feet of office, residential, hotel, and mixed-use space as well as over 800 acres for development - primarily in the Washington, DC metropolitan area. This local focus, together with extensive industry experience and an unparalleled perspective, has resulted in Meridian's powerful record of value creation. 

 CONTACT:

Kristen Murphy

Senior Manager

Public Relations

 Investor Services

JLL

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