Three Building Portfolio Commands $142 Per SF

HERNDON, VA-The Northern Virginia office market is proving to be a big draw for investors, and the recent acquisition of South Pointe I & II and Plaza Ridge II is no exception. Miami-based America’s Capital Partners has expanded its reach into the Metropolitan Washington, DC region once again with its recent $68 million purchase of the three class A office structures, totaling 480,000 sf, from developer Tishman Speyer. According to Delta Associates’ Third Quarter 2003 Washington/Baltimore Office Market Report, year-to-date, 30% of Metropolitan Washington, DC area sales occurred in Northern Virginia.

Situated in the 170-acre Woodland Park section of Fairfax County–the 36th largest county in the nation, according to the US Census Bureau–the three properties are just off the Dulles Toll Road in the heart of the Dulles Corridor. South Pointe I & II were built on 11 acres of land in 2000, and consist of 160,000 sf each. Architectural firm Hellmuth, Obata & Kassabaum designed both six-story structures, which carry a 2003 assessed value of $22 million each. Development of the 160,000-sf six-story Plaza Ridge II wrapped up in 2001. Located on a five-acre parcel, the building boasts a design by HOK Architects, as well, and has an assessed value of $17.7 million.