Chantilly Distribution Center
Washington, DC—German asset management company DWS Group's Americas real estate platform has acquired the 350,000-square foot Chantilly Distribution Center for an undisclosed price. The seller was an affiliate of American Realty Advisors and Newmark Knight Frank brokered the sale.
The property, located at 3900 Stonecroft Blvd, is located near the intersection of several major thoroughfares for the DC region, Route 50, Route 28, the Dulles Toll Road (267) and Interstate 66, serving as a last-mile location for the Fairfax and Loudoun markets. The property is currently 87% leased.
NKF's Jud Ryan and James Cassidy facilitated the sale.
Existing industrial product in the Chantilly submarket and elsewhere in Northern Virginia is experiencing very strong fundamentals because of the competing demand for these assets by data centers, according to Cassidy. "We believe in future upside in industrial product based upon the barriers to entry that have been established coupled with the increasing demand for this type of space," he says in prepared remarks.
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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.
