More Signs of Life from Westfields

WESTFIELDS, VA-Falcon Nest, a local LLP, has acquired 21.6 acres of office ground here with plans to build out an office park. The acreage sits on Route 28 south of the Westfields Boulevard interchange and is one of the last large undeveloped sites visible on Route 28. Bob Shue and Matthew Gallagher of Jones Lang LaSalle represented the seller, Seven Hills Corp.  JLL’s Steve Perkins represented Falcon Nest, LLP.

The new owner plans to build a three- to four-office building project that totals 300,000 to 400,000 square feet. It will be one of a handful of projects that are in the early stages here. Westfields, and the larger Chantilly submarket, was flattened by the recession in large part because it was overdeveloped in the run up to the recession and had a lot of supply to burn off. However, there are attractive elements to the area--namely the presence of the the National Reconnaissance Office--that now appear to be driving the emerging recovery.

In February Meadows I, a 104,003-square-foot office building in the area, was acquired by Federal Partners. In January, Washington Property Co. closed on a 9.41-acre plot of site-plan approved land here, with the intent of developing it into an office building in the medium term.