Albemarle Point Trades for $67M

CHANTILLY, VA-Washington Real Estate Investment Trust has picked up Albemarle Point, a 296,000-sf flex and office space business park, for $67 million from DuPont Fabros. The class A portfolio of six structures was developed between 2001 and 2005 and is currently 97% occupied by a roster of 16 tenants that includes the US Department of Defense and the US Federal Aviation Administration.

Eastdil represented the seller, while WRIT relied on internal representation. Situated on 29 acres off Interstate 66 and Route 50 near the Washington Dulles International Airport, Albemarle Point consists of five single-story flex structures accounting for 206,600 sf and one two-story office building featuring 89,400 sf of space.