extraordinary delivered avion business park · 2019-08-30 · extraordinary delivered . avion...

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EXTRAORDINARY DELIVERED AVION BUSINESS PARK Chantilly, VA Mid-Atlantic Capital Markets Team Virginia Agency Leasing Team OPPORTUNITY The Maguire Hayden Real Estate Company bought a value-add, office/flex portfolio from a bank foreclosure in 2014. Transwestern’s Virginia-based leasing brokers, led by Caulley Derringer, repositioned the asset which Maguire-Hayden aimed to sell and obtain a quality yield on investment. They hired Transwestern’s Capital Markets Team to broker the sale of the portfolio, which included three, one-story flex buildings; 14700 Avion Parkway, 3635 and 3650 Concorde Parkway, and two, three-story office buildings; 14500 and 14520 Avion Parkway. The portfolio is centrally located along Route 28 at the southern tip of Dulles Airport. The five-building portfolio is in Avion Business Park in Chantilly, Virginia. SOLUTION Transwestern knew creating the perception of future value would be key to a successful transaction. The portfolio of buildings was 78% leased, which provided the buyer the opportunity to develop more value through leasing the available space, while simultaneously earning cash flow from high-credit tenants. Transwestern focused on detailed underwriting and comprehensive knowledge of similar investment sales to help solidify the story of the portfolio. RESULTS The Transwestern team ran a process that produced over seven qualified bids and eventually led to Minkoff Development purchasing the 317,782- square-foot portfolio for $43.5 million.

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Page 1: EXTRAORDINARY DELIVERED AVION BUSINESS PARK · 2019-08-30 · EXTRAORDINARY DELIVERED . AVION BUSINESS PARK . Chantilly, VA . Mid-Atlantic Capital Markets Team . Virginia Agency Leasing

EXTRAORDINARY DELIVERED

AVION BUSINESS PARK Chantilly, VA

Mid-Atlantic Capital Markets Team

Virginia Agency Leasing Team

OPPORTUNITY The Maguire Hayden Real Estate Company bought a value-add, office/flex portfolio from a bank foreclosure in 2014. Transwestern’s Virginia-based leasing brokers, led by Caulley Derringer, repositioned the asset which Maguire-Hayden aimed to sell and obtain a quality yield on investment. They hired Transwestern’s Capital Markets Team to broker the sale of the portfolio, which included three, one-story flex buildings; 14700 Avion Parkway, 3635 and 3650 Concorde Parkway, and two, three-story office buildings; 14500 and 14520 Avion Parkway. The portfolio is centrally located along Route 28 at the southern tip of Dulles Airport. The five-building portfolio is in Avion Business Park in Chantilly, Virginia.

SOLUTION Transwestern knew creating the perception of future value would be key to a successful transaction. The portfolio of buildings was 78% leased, which provided the buyer the opportunity to develop more value through leasing the available space, while simultaneously earning cash flow from high-credit tenants. Transwestern focused on detailed underwriting and comprehensive knowledge of similar investment sales to help solidify the story of the portfolio.

RESULTS The Transwestern team ran a process that produced over seven qualified bids and eventually led to Minkoff Development purchasing the 317,782-square-foot portfolio for $43.5 million.