Worldgate Plaza Hits Market Again, Fetches $78M

HERNDON, VA-Worldgate Plaza I, II, III and IV have found a new owner in Boston Properties, courtesy of a recent $78.2-million deal. With the assistance of real estate services firm CB Richard Ellis, an entity of Charlotte, NC’s Faison Enterprises sold the four-structure, 322,000-sf complex to the Massachusetts-based REIT just one year after having acquired it as part of a larger six-building, $130-million purchase from Denver’s Miller Global Properties LLC.

Boston Properties represented itself in the deal, but has decided to rely on CB Richard Ellis to continue handling leasing activities at the class A buildings. Located in the Dulles Corridor, Worldgate Plaza’s four buildings were developed in the late 1990s by Miller Global Properties. Each of the structures stands four stories tall and features about 80,500 sf.