Northern VA Office Complex Trades for $113M
The recently repositioned, 384,336-square-foot Dulles Executive Plaza in Herndon, VA was acquired by Innovatus Capital Partners LLC
HERNDON, VA – Innovatus Capital Partners LLC has purchased a two-building, class A office complex in Herndon, VA for $113.5 million.
The 384,336-square-foot property, Dulles Executive Plaza, was acquired from affiliates of Lionstone Investments and funds advised by the Columbia Property Trust subsidiary, Columbia Real Estate Management.
Located at 13530 and 13560 Dulles Technology Dr. within Herndon’s Innovation Center market, Dulles Executive Plaza offers on-site amenities, including a conference center, fitness facility, tenant lounge and food services.
In 2019, Dulles Executive Plaza was renovated and repositioned. The property is now 94% leased to name brand government contractors, such as Lockhead Martin and Constellis.
For the transaction, JLL represented the seller and procured the buyer. The JLL team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir and Dave Baker. JLL’s debt placement team, led by Paul Spellman, Rob Carey and Susan Carras, additionally worked on behalf of Innovatus Capital Partners to secure the acquisition financing.