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MANASSAS, VA-In an all cash transaction, First Potomac Realty Trust buys Windsor at Battlefield, a two-structure flex facility accounting for a total of approximately 154,000 sf of office/flex space, for nearly $15.3 million. At the time of the transaction, the property was 57% occupied by three tenants.

“At only 57% leased, Windsor at Battlefield provides us with an excellent opportunity to add value,” First Potomac chief investment officer Nicholas R. Smith says. “Occupancy rates and market rents in the Manassas/I-66 submarket are increasing and positive net absorption is trending upward. This bodes well for the property’s 66,000 sf of vacant space, which is one of the largest blocks of available flex space in Northern Virginia.”

Windsor at Battlefield was developed in 1989 on 12.3-acre parcel within the 135-acre Battlefield Business Park. The first structure, located at 10002 Battlefield Pkwy., is a two-story building accounting for 53,000 sf; while the second two-story facility at 10110 Battlefield offers 101,000 sf. Transwestern Commercial Services marketed the property on behalf of the seller.

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