Presidents Park Gets New Owner

HERNDON, VA-A fund sponsored by Republic Properties Corp. has become the new owner of Presidents Park, a nearly 602,000-sf office complex in the Dulles Corner area. Republic came into possession of the three-structure property through the acquisition of the company that owned the buildings. The purchase was for an undisclosed price, and while Republic Properties declined to reveal the name of the owner, Aslan Realty Partners II appears to be the last owner of record.

Presidents Park was once a hot-spot. Back in 1999 during the high-flying days when the Internet bubble had yet to burst, technology firm WinStar leased the entire 200,000-sf Presidents Park I. But the company vacated the property after filing for bankruptcy in late 2001.