FALLS CHURCH, VA–Private equity firm Kiddar Capital has acquired 575 Herndon Pkwy, the landing site for the platform of the WMATA Herndon Silver Line station, for $33 million.
The 4.8-acre property has a 135,102-square foot office building largely occupied by Booz Allen Hamilton.

575 Herndon Pkwy is a cornerstone of the planned Transit-Oriented Core, a 38-acre urban-style district that is based around the Silver Line infrastructure and offers mixed-use developments, open spaces, a retail and entertainment core and a pedestrian promenade that borders 575 Herndon.

The WMATA Herndon Silver Line station is scheduled to be finished in the first quarter of 2020. Kiddar Capital said it intends to hold the property for no less than three and no more than ten years before it redevelops the site. Kiddar Capital founder and CEO Todd Hitt said in a prepared statement that the company is looking forward to contributing to the local community through its ownership of the metro site.

The Silver Line, to state the obvious, is building up communities throughout Northern Virginia. Tysons, among the first recipients of the metro line, has seen tremendous activity because of the Silver Line, both in terms of acquisitions and redevelopment. As one example, JLL recently reported that the the Silver Line is driving multifamily development this year in Northern Virginia, with 64% of multifamily deliveries coming online in Reston, Herndon, Tysons, and the RB Corridor.

The acquisition by Kiddar's Real Estate Group was financed by Eagle Bank and brokered by Colliers International.