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ALEXANDRIA, VA-Velsor Properties recently purchased a six-building, 274,000 sf development here, according to Lawrence Horowitz, president. Velsor bought the Beltway Business Center for $23 million from a client of UBS-Brinson.

The buildings are located here at the Edsall Road exit of I-395 less than one mile inside the Capital Beltway. The service center and industrial buildings are clustered at the intersection of General Washington Drive and General Green Way. Major tenants include Gannett/USA Today, AutoTrader, Canon USA and INOVA Health Care System’s Home Health Clinical Services.

“These well-located, functional buildings fit solidly into our growing portfolio of long-term investments,” says Horowitz. “With this purchase, Velsor Properties now owns over 1.2 million sf of property in Northern Virginia.”

Brokered by Bruce E. Strasburg and Matthew T. Maccaroni of the Trammel Crow Co., the mortgage was placed with a major financial institution by C. Stephen Shaw of the Frank S. Phillips Mortgage Corp. Velsors’s legal counsel in the transaction was Stuart M. Cohen of Proskauer Rose.

Velsor Properties, founded in 1997 by Lawrence and Lisbeth Horowitz, is headquartered in Tysons Corner, VA.

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