MANASSAS, VA—A 15,850-square foot former truck terminal has traded here for $3.9 million. The property, marketed by JLL, was originally positioned as a last mile distribution point for industrial users. Ultimately, the property sold to a waste disposal company that was interested in the property's large, paved parking and staging area.
CalEast Nat, LLC, a partnership controlled by CenterPoint Properties, was the seller, represented by JLL Senior Vice President John Dettleff. The buyer, 9459 Contractors Court, LLC, was represented by J. Carter Wiley of The Wiley Cos.
"The high valuation of the property is derived from its high land-to-building ratio," said Dettleff. Properties with ample land area for parking, staging or outside storage tend to command a premium, he said whether they are located inside or outside the Beltway.
The property, located at 10380 Central Park Dr., has parking for 60 cars, 40 53-foot trailers and offers 50 loading dock doors.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
