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After putting a three-building Chantilly flex-industrial portfolio on the market in November, Avison Young has found a buyer for two of the properties.
Scottsdale, Arizona-based Beckham Gumbin Ventures bought Sullyfield Commerce Center I and II, totaling 246K SF, for $19.9M. Avison Young's John Kevill, Chip Ryan, Bert Harrell and Jesse Martin represented the seller, an undisclosed pension fund advised by CIM Group.
Built in 1986, the Chantilly buildings are part of the Dulles South submarket. They sit about seven miles south of Dulles International Airport and just south of the intersection of Route 50 and Route 28, adjacent to the Dulles Expo Center.
Sullyfield Commerce Center I is a 146K SF building at 14340 Sullyfield Circle. It is 95% leased to seven tenants, including Northrop Grumman. The second building at 14320 Sullyfield Circle is 100K SF and is 63% leased to two tenants, Northrop Grumman and CACI International.
“These buildings attracted considerable interest from investors across the country,” Ryan said in a release. “The properties were available at significant discount-to-replacement cost, and they’re located in a supply-constrained market."
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