Federal Capital Partners Acquires One Dulles Tower for $84M
Federal Capital Partners has announced the acquisition of One Dulles Tower for $84M from Corporate Office Properties Trust.
The 400k SF Class-A office building is at 13200 Woodland Park Dr in Herndon, VA, and part of the Woodland Park master planned development. The future Herndon and Innovation Center Silver Line Metro Stations will be a half mile away. One Dulles Tower is 100% leased to Booz Allen Hamilton, which will be vacating the property at the end of the year. FCP will use the opportunity to renovate and reposition the building. Cushman & Wakefield represented the seller, and has also been selected by FCP to provide leasing services for the building.
The transaction is the largest office purchase in the DC area by FCP and speaks to its confidence in the asset and the area. Tomorrow, Bisnow will be hosting its Fourth Annual Northern Virginia State of the Market event, where we’ll be discussing the state and direction of the real estate market. The event will be hosted at Hilton McLean Tysons and kicks off at 7:30am.