Westfields Corporate Park is home to many cyber security and defense companies. Credit: Westfields Westfields Corporate Park is home to many cyber security and defense companies. Credit: Westfields
CHANTILLY, VA—Some five years after it acquired it, Boston-based Federal Partners has sold its Chantilly, VA-based office, Meadows I, for $31.8 million or $306 per square foot, according to public records. The two-story, 104,000-square foot building is located at 4755 Meadow Wood Ln. in Westfields Corporate Park, a 1100-acre campus in Fairfax County.  The buyer is Boyd Watterson, an institutional investment manager based in Cleveland, OH When Federal Partners acquires Meadows I in 2011 it was fully leased to the US Government through 2015. Federal Partners paid $23.8 million for the asset. Investor Interest in Chantilly Reawakens This trade is yet another sign that Chantilly is starting to revitalize . Examples include UNICOM Global’s acquisition of Washington Technology Park I & II at 15000 and 15010 Conference Center Dr., for $52.5 million, and Northridge at Westfields, a three building office, warehouse and R&D complex that traded to Strategic Capital Partners for $17.2 million. Also, Park Stone Place, a 75,838-square-foot building, four-story office building in the Westfields Business Park sold for $21 million, or $237 per square foot. JLL’s Bill Prutting Jr., told GlobeSt.com earlier this year that he believes the Route 28 submarket could be a sleeper area ready to break out in 2016 — largely due to its strong base of cyber security companies. Cyber defense and security is one of the few areas where the federal government is freely spending, he said. “Industries such as data intelligence, cyber security, telecom and data centers are growing in this market and will stabilize the area,” Prutting said. “I think Route 28 could well receive billions of dollars in investment in infrastructure and acquisitions. We are starting to see that already.” Westfields arguably is the center of gravity for this ecosystem with such companies as Lockheed Martin, Northrop Grumman, The Aerospace Corporation, Level3, CSC, DynCorp and Boeing calling it home. But then again, this traction isn’t spreading everywhere in Chantilly. Trepp reported in its January 2016 delinquency data for Washington DC that the loan on the building at 4795 Meadow Wood Ln — Meadows IV — was 90 days overdue.  

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