Monday Properties has expanded its D.C.-area presence with the purchase of two office properties in Northern Virginia, totaling more than 370,200 square feet. Dulles Metro Center, sold by a joint venture between Principal Real Estate Investors and The Pinkard Group, is located in Herndon, Va., while Cameron Run Office Park, acquired from The Meridian Group, is situated in Alexandria, Va.
“The strategic acquisitions of Cameron Run and Dulles Metro Center reinforce our long-standing commitment to investing in assets located within paths of growth in the Washington Metropolitan area,” Tim Helmig, managing partner for Monday Properties, told Commercial Property Executive. “We are bullish on future investment opportunities in the region, particularly in transit-oriented zones with built, or to be built, live-work-play environments.”
Recently renovated assets
According to public records, Dulles Metro Center formerly traded in 2014 for $44.5 million. The site is located at 2325 Dulles Corner Blvd., adjacent to Hyatt Regency Dulles and Dulles Toll Road. The transit-oriented property is also neighboring the Dulles International Airport and is within walking distance of the upcoming Innovation Center Metro station. The Class A property positioned in the heart of the Dulles Technology Corridor is 96 percent leased and has undergone recent upgrades. The 225,029-square-foot Dulles Metro Center includes best-in-class amenities such as:
- modernized lobby
- fitness center
- tenant lounge with catering facility
- conference center
- outdoor patio with collaborative workspaces
Meridian purchased Cameron Run Office Park in 2012, for $31.3 million. Located at 3601 Eisenhower Ave., the property sits inside D.C.’s Beltway, proving visibility from interstates 95 and 495. The site offers easy access to four Metro stations and Reagan National Airport. The building is fully leased and includes tenants Michael Baker Corp. and Savi Technology.
Images courtesy of Monday Properties