CHANTILLY, VA-Construction has gotten under way on the three-building Manekin @ Dulles South flex/industrial complex with new owners for the new single-story structures already in place. With the help of Transwestern Commercial Services, developer Manekin LLC was able to sell the buildings for a total of $12 million in advance of development.Manekin @ Dulles South occupies a 12-acre parcel off Route 50 in Fairfax County’s I-495 corridor. The three structures–designated as Building A, B, and C–account for 58,000 sf, 46,000 sf and 36,000 sf, respectively. About five companies bought up space in Building A, which is scheduled for delivery in August. A private investor bought Building B, and C&P Construction took on Building C; both structures are expected to reach completion in September. “The Northern Virginia market is picking up,” says Manekin senior developer Kevin Cawley. “It’s certainly a good sign to have 100% of our buildings sold out before construction even begins.” As per Advantis Real Estate Services Co.’s Year-End 2003 Flex-Industrial Report, the vacancy rate for flex space in all of Northern Virginia is 17.9%, while the figure in the I-495 corridor is 4.8%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.