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JK Land Holdings Acquires Gainesville Business Park in NoVa for $57M
JK Land Holdings has purchased Gainesville Business Park, a six-building dynamic light industrial facility totaling 369,443 square feet with an on-site booster station located at 14235 John Marshall Highway in Gainesville, VA, for $57 million.
The property is currently 98.2% leased to 10 industrial/warehouse tenants and one telecom tenant.
Bo Cashman and Jonathan Beard with CBRE arranged the transaction on behalf of seller Chalmers Property Company, a Fairfax, VA-based privately held real estate investment and development firm. CBRE’s Tony Russo served as the local leasing advisor.
“The Northern Virgina industrial market continues to attract capital due to its strong market fundamentals, proximity to the population center of Washington D.C. and land scarcity,” said Cashman. “We project demand to continue to outpace supply in the coming years.”
Gainesville Business Park is located at the new interchange at the intersection of John Marshall Highway and Lee Highway (U.S. Route 29.
- ◦Sale/Acquisition
