CHANTILLY, VA-Four industrial buildings here have traded for $10.9 million. The buildings were put on the market by Dulles South Partners, a partnership managed by Washington Properties and then sold in quick succession to four separate buyers. The four building portfolio, known as Washington Dulles South Industrial Park, totals 161,662 square feet. Jones Lang LaSalle Vice President John Dettleff represented the owner, and AJ Wood and Tom McHugh of Cushman and Wakefield represented the four buyers.

These buildings were built in 2009 and catered to the small tenant service industry—namely companies in the construction and housing markets, Dettleff tells GlobeSt.com. When that sector cooled, the owner decided to sell the buildings. JLL marketed the portfolio as an investment sale but then was approached by a series of full-building users that were interested in the properties for themselves, Dettleff explains. "All of these companies, the new owners, are from the marble and granite world. They are experiencing new business, have a need for new storage and fabrication space as they service the market in the Route 50 corridor."

The transactions include:

Paramount Investment Properties, LLC purchased the 42,246-square-foot building at 25395 Pleasant Valley Road.
United Granite of Virginia, LLC purchased the 39,124-square foot building at 25391 Pleasant Valley Road.
VES Investment Properties purchased the 44,236-foot building at 25837 Pleasant Valley Road.
Pleasant Valley Tile, LLC purchased the 36,055-foot building at 25383 Pleasant Valley Road.

Instant Insights /

Dulles South Industrial Park Portfolio Trades

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