December 07, 2022
WASHINGTON – Transwestern Real Estate Services (TRS) announces it has secured a full building lease for Gateway 28, a new 76,275-square-foot industrial development at 22900 Indian Creek Drive in Sterling, Virginia. Transwestern’s Stephen Cloud, Caulley Deringer and Andrew Hassett arranged the 10-year transaction for a Virginia-based provider of IT solutions on behalf of the asset owner and developer Foulger-Pratt.
“Gateway 28 is a premier industrial property in the Dulles Corridor,” said Cloud. “Foulger-Pratt developed a Class A industrial facility that provides state-of-the-art features with direct frontage on Route 28 and immediate access to Dulles Toll Road and Dulles International Airport.”
Foulger-Pratt broke ground on Gateway 28 in February 2022 and will deliver it this month. The 6-acre industrial project is situated within the Loudoun Gateway master-planned business park with access to the area’s major transportation networks, including Dulles International Airport’s cargo entrance.
According to Transwestern research, the Dulles Corridor’s vacancy rate currently sits at 1.6%, the lowest since the early 2000s. As a result, rental rates continue to increase and break new records on a quarterly basis.
The tenant was represented by Dan Coats with JLL.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.