Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Coveted 1.1M-SF Northern VA Last Mile Zone Portfolio Hits Market
MRP Realty and institutional investors, advised by J.P. Morgan Asset Management, are divesting a portfolio of 19 urban industrial buildings totaling nearly 1.1 million square feet in Northern Virginia. Transwestern’s Mid-Atlantic Capital Markets Group has been awarded the sale assignment.
The portfolio comprises 15 buildings totaling 813,955 square feet in Northern Virginia Industrial Park at Lockport Place and Telegraph Road in Newington, VA, and four buildings totaling 241,994 square feet in Fullerton Industrial Park at 7401, 7664, 7666, 7668 Fullerton Road in Springfield, VA.
Since purchasing the portfolio in 2015, the owners have repositioned the properties, which average 34 years old, through capital improvements and the enhancement of the tenant base credit. Given the strong demographics and high barriers to entry associated with this portfolio’s last mile location, Transwestern’s Gerry Trainor expects institutional buyers as well as operators to aggressively pursue the assets.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition