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Transwestern Brokers Disposition of 1.1M-SF Logistics Portfolio for $143M
A 1.1-million-square-foot industrial portfolio in Northern Virginia, along Interstate 95 in Springfield, has traded hands to an undisclosed buyer for $143.3 million. Northern Virginia Industrial Park and Fullerton Industrial Park were divested by MRP Realty and institutional investors advised by J.P. Morgan Asset Management.
The 19-building portfolio, located 13 miles south of Washington, D.C., caters to last-mile logistics industry and local home improvement retailers.
Transwestern’s Gerry Trainor and Mark Glagola represented the seller.
“This transaction represents a confluence of the seller’s desire to capitalize on its successful repositioning and lease-up of the portfolio, and the buyer’s desire to invest in well-located, light industrial facilities within a major metropolitan market that exhibits extremely strong demographics,” said Trainor.
The 15-building, 813,955-square-foot Northern Virginia Industrial Park is located at Lockport Place and Telegraph Road in Newington, VA. The four buildings within Fullerton Industrial Park total 241,994 square feet at 7401, 7664, 7666, 7668 Fullerton Rd. in Springfield.
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- ◦Sale/Acquisition
