Transwestern Represents Seller of Five-Building Property in Chantilly, Virginia
July 11, 2019
Chantilly, VA - Transwestern Commercial Services (TCS) today announces it has brokered the sale of a five-building flex/industrial and office portfolio located in Avion Business Park, the premier business park of Chantilly, Virginia. The Transwestern Mid-Atlantic Capital Markets Group provided disposition services on behalf of Maguire Hayden Real Estate Company. Minkoff Development purchased the 317,782-square-foot portfolio for $43.5 million.
“Avion Business Park offered a rare opportunity to acquire flex and office product in a highly populated and affluent area proximate to thriving defense, aerospace and high-tech industries,” said Mark Glagola, Senior Managing Director at Transwestern. “The portfolio is 78% leased, providing Minkoff Development with the opportunity to create value through leasing the available space while still earning secure cash flow from high-credit tenants.”
The portfolio includes the following:
- 14700 Avion Parkway, a one-story flex building totaling 47,810 square feet
- 3635 Concorde Parkway, a one-story flex building totaling 88,648 square feet
- 3650 Concorde Parkway, a one-story flex building totaling 67,486 square feet
- 14500 Avion Parkway, a three-story office building totaling 57,345 square feet
- 14520 Avion Parkway, a three-story office building totaling 56,493 square feet
The portfolio is centrally located along Route 28 at the south tip of Dulles Airport. The easily accessible location allows employers to tap into a well-educated labor pool that includes one of the highest concentrations of tech jobs in the country.
Transwestern’s Mid-Atlantic Capital Markets Group focuses on investment sales services throughout the Washington, D.C., region, providing clients with exceptional service and market knowledge. During the past 24 months, the group’s transactions have exceeded $1.7 billion in aggregate value. The team’s success is a direct result of detailed underwriting and keen understanding of the local, national and international investment communities.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.