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Campus at Sunrise Sells for $52M

RESTON, VA-The 253,800-sf Campus at Sunrise comes under new ownership. BPG Properties Ltd. acquires the three-structure office campus from CarrAmerica and is planning extensive upgrades.

By Barbra Murray | Updated on January 23, 2006

RESTON, VA-Berwind Property Group Ltd. affiliate BPG Properties Ltd. has acquired the 253,800-sf Campus at Sunrise from CarrAmerica for $51.9 million. CarrAmerica bought the property in 1996 when it was known as Sunrise Corporate Center for about $42.6 million. The firm later invested $8.2 million in improvements.

According to Fairfax County real estate records, the property has a total current assessed value of $38.4 million. BPG, having acquired the Campus at Sunrise on behalf of BPG Investment Partnership VII LP, will also submit the property to an upgrade and a repositioning program over the next few months. BPG’s Roy Perry and George Haines orchestrated the acquisition internally, while Warren Dahlstrom and Jim Luck of Cushman & Wakefield represented CarrAmerica, which will serve as the complex’s manager.

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