CHANTILLY, VA—Special servicer LNR Partners has a contract pending for six buildings located with the 188-acre Avion Business Park. The portfolio under contract consists of 586,000 square feet, a source tells GlobeSt.com.
Another property located within the part-Avion Lakeside-was scooped up in an REO acquisition by Starwood Capital Group at the start of this year. In general, Chantilly has been a submarket under seige with vacancy rates as high as 20% during the recession and its aftermath.
The properties trading are Avion Tech I, located at 3901 Stonecroft Blvd., Avion Tech II at 14700 Avion Pkwy; Avion III located at 3635 Concorde Pkwy; Midrise I, at 14500 Avion Pkwy; Midrise II located at 14520 Avion Pkwy; and Service Center III, which is located at 3650 Concorde Pkwy.
The portfolio last traded in 2006.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
