Reclamation Partners, in partnership with Fox Capital Partners, announced the acquisition of a 101,587-square-foot light-industrial building located at 14851 Stonecroft Center Court, Chantilly, Virginia, within Washington, D.C.’s infill Dulles submarket.
The multi-tenant property, situated on 8.7 acres with 12 dock doors and a 22-foot clear height, is a fully stabilized acquisition with a weighted-average lease term of 4.1 years at close. The building is 100% leased to MFG One, a specialty manufacturing operator occupying 76,587 square feet under a five-year sale-leaseback, and Penske Automotive Group, which occupies 25,000 square feet.
“This is our second acquisition in the Dulles corridor in as many months, and it reflects our deep conviction in this submarket. We are acquiring a fully cash-flowing asset at a meaningful discount to replacement cost in a market where the supply constraints are only tightening,” said Matthew McCarthy, Managing Partner at Reclamation Partners.
The post Reclamation Partners Acquires 102K-SF Industrial Facility Near DC appeared first on Connect CRE.