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Union Investment Acquires $100M Tishman Office

HERNDON, VA-Volkswagen of American is moving into the 184,787-sf office building to use as its US headquarters, after opting to leave Michigan.

By Erika Morphy | Updated on June 04, 2008

HERNDON, VA-Union Investment Real Estate AG, a Hamburg, Germany-based investment management company, closed on a class A office building here owned by Tishman Speyer. The property, called Woodland Pointe, received its 15 minutes of fame last fall when Volkswagen of America selected it to relocate its US headquarters, from Michigan.

The sales price has not been disclosed, but the 184,787-sf, six-story building has been valued at $100 million. Volkswagen has signed a 15-year net lease. Tishman Speyer delivered the building in Jan. 2008.

The credit tenant, the building’s proximity to the Dulles International Airport and its visibility along the Dulles Toll Road all factored into the German company’s decision to acquire the asset, Zeb Bradford, managing director of Metzler, Union Investment’s real estate advisor in the US, tells GlobeSt.com. Volkswagen. Union made the acquisition for UniImmo, a global open-ended real estate fund.

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