MANASSAS, MD—The Goldstar Group has completed the acquisition of a 186,00 square foot industrial warehouse facility located in the Manassas sub-market of Northern Virginia for $9.35 million.

Stephen Perkins of Newmark Grubb Knight Frank represented both the buyer and the seller, Euclid Avenue Investors LLC, in this transaction. The asset, located at 9061 Euclid Avenue, is currently 92% leased to two separate creditworthy tenants. Metropolis Capital Finance, led by Clifford Mendelson, arranged for the equity and the debt financing for this transaction. “We are pleased to have represented Goldstar in this transaction,” Mendelson said.

Constructed in 1977 and contained on ten acres of land, the industrial warehouse currently supports the real estate requirements of two companies including light manufacturing, storage and logistics operations. The Goldstar Group intends to maintain the property as a large bay property, to leverage the existing zoning which allows for storage outside of the building. The company intends to re-evaluate its options for the building, including possible re-development plans to create additional density, as economic conditions change in the local marketplace.