Alcatel Building Goes for $30M

CHANTILLY, VA-The 275,000 office building at 15036 Conference Center has become part of Carr Capital Corporation’s portfolio in a $30.1 million deal. Carr, joined by JP Morgan Investment Management’s Special Situation Property Fund, acquired the vacant class A property from Alcatel Marketing USA and replaced the structure’s former Alcatel Building title with the name Independence Center. The acquisition includes an undeveloped parcel of land capable of accommodating up to 250,000 sf of development.

Built in 1999 in the Westfield’s Corporate Center office park, the six-story building had been fully occupied until September by Newbridge Networks and then Alcatel, which acquired Newbridge. Grubb & Ellis has been tapped to manage the property and handle leasing activity.