Near Dulles Airport, the portfolio consists of four office buildings, including three that make up the Orbital Science Corp. campus in Steeple Chase office park. Orbital's 156-acre campus totals 337,228 sf of space. The fourth building, a 127,000-sf building, has three tenants, including the US Postal Service and VeriSign.
The most appropriate comparable was the sale of 21700 Atlantic Blvd. in August, Ginter tells GlobeSt.com. This 112,593-sf building, which is also located in the office park, traded at $184.29 per sf when UBS acquired it from RREEF.
With an average annual growth rate of 8%, prospects for the county--the third-fastest growing county in the United States--are strong, one driver behind the transaction. "This acquisition gives our clients access to an outstanding opportunity to benefit from an investment in one of the fastest growing areas in the US," says Sebastian Lohmer, managing director and portfolio manager of the TMW Weltfonds. "We believe our investors could benefit from the region's strong economic fundamentals, fueled by demand generated by government contractors and telecommunications firms."
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