14-Building Northern Virginia Flex Industrial Portfolio Hits The Market
A portfolio of 14 flex-industrial buildings across two Northern Virginia business parks has just hit the market.
I-95 Business Parks Management has hired Avison Young to help it sell Gunston Commerce Center in Lorton and Prince Williams Commons in Woodbridge.
The nine-building, 602K SF Gunston Commerce Center sits just off Interstate 95 at the intersection of Richmond Highway and Furnace Road. The property is 85% leased to the federal government and multiple contractors. Its remaining vacancies range from 21K SF to 112K SF.
Prince William Commons consists of five buildings totaling 267K SF near the intersection of Prince William Parkway and Golansky Boulevard, less than two miles from I-95. The property is 75% leased to a mix of government tenants, contractors, medical providers and a brewery.
“Both parks boast best-in-class physical assets, tremendous vehicular access and proximity to irreplaceable demand generators,” said Avison Young principal John Kevill, who is marketing the buildings along with Jim Kornick, Chip Ryan, Michael Yavinsky, Michael Murillo, Georgiana Condoiu and Erik Foster. “In today’s environment, investors are looking for an investment thesis that offers a differentiated story. These parks will provide exactly that, and will achieve strong returns with continued income growth.”
