STERLING, VA—Private equity manager Velocis has acquired two Class A office buildings totaling almost 180,00 square feet in the Loudoun Gateway Business Park here.
The Dallas-based firm purchased the Gateway II and III office buildings from a private partnership. The newly acquired properties total 179,804 square feet of office space and are located adjacent to Dulles International Airport. No financial terms of the transaction were released.
“Loudoun Gateway II & III are solid assets located in an exceptional business park in the recovering Northern Virginia market,” states Paul Smith, Velocis principal. “The two buildings provide tenants strong security infrastructure, proximity to the airport and major area government employers, as well as easy access to the new Silver Line rail extension and amenities, scheduled for completion in 2018.”
The two interconnected buildings are currently more than 90% leased by companies that represent some of the premier government contractors in the area, Velocis states in an announcement. The seller was represented by Chip Ryan of Avison Young. The property will be managed by DTZ and leasing services will be provided by Moore & Associates.
Velocis has been active in real estate investment since 2011, purchasing 17 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona and North Carolina.
Velocis consists of two entities—Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Velocis Advisors provides asset management and advisory services to both investors and real estate clients.
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