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Chantilly’s Mission Ridge I and II Fetch $96M


The sales keep on coming in Chantilly as two more office buildings have traded hands in the burgeoning submarket.

Charlotte, NC-based Salus Property Investments has acquired Mission Ridge I & II, two five-story buildings at 15020 Conference Center Dr, from LaSalle Investment Management for $96M. LaSalle acquired the 312k SF complex in 2010 for $40.5M, GlobeSt reports.

This is the latest of several office building sales in Chantilly, an area that benefits from being in the middle of a strong industry cluster, and boasts an office vacancy rate of 17%, one of the lowest in the NoVa office market. Just last week, Meadows I, a 104k SF building in Westfields Corporate Park, traded hands from Boston-based Federal Partners to Ohio-based institutional investment manager Boyd Watterson for $31.8M.

That transaction was followed by the JV of The Goldstar Group and CrossHarbor Capital Partners picking up a 150k SF building at 14200 Park Meadow Dr in Westfields from Carr Properties for $16.35M. As we told you back in January, the demise of suburban office parks may have been overstated. [GS]