CHANTILLY, VA—In July we reported that a source told us of a pending office portfolio trade here by a special servicer. NAI KLNB has provided details of the transaction, which has now closed. The five-building commercial office portfolio, totaling 318,000 square feet of space, traded to Hayden Maguire Real Estate Fund for $60.5 million, or $190 per square foot.
It is located in the Avion Business Park. NAI KLNB's Kevin Goeller, Chris Kubler and Josh Simon, in cooperation with C-III Realty Services, LLC, brokered the transaction.
The properties consist of MidRise I, located at 14500 Avion Pkwy; MidRise II located 14520 Avion Pkwy; Service Center III located at 3650 Concorde Pkwy; Avion Tech Center II located at 14700 Avion Pkwy and Avion Tech Center III, which is sited at 3635 Concord Pkwy.
Originally built by the Trammell Crow Co. between 1987 and 2001, the portfolio is located within a nineteen-building office portfolio within Avion Business Park.
The offering generated a great deal of high-quality investor interest and multiple offers, according to Kubler. "This mix of low and mid-rise flex/office product are located in, historically, the healthiest and most prolific commercial office environments in the country," he said. "This portfolio provides excellent opportunities to create long-term value."
NAI KLNB is now taking two more Avion Business Park assets to market.
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