Newington Business Center

Newington

 

 

Newington

Newington Business Center

NORTHERN VIRGINIA | 256,000 sq. ft.

*purchased while senior management team at First Potomac Realty Trust

Property Overview

  • Small bay industrial buildings located in the Newington submarket with easy access to I-95
  • Seven buildings totaling 256,000 SF

 

Acquisition Details

  • Acquired in December 1999 for $12.6M ($50psf) in a joint venture with Wafra, Inc.
  • Purchased from the lender after they had foreclosed on previous ownership

 

Execution

  • Principals of DSC Partners handled the operation of the property for the entire 16 years
  • Sold in December 2015 for $32.5M ($127psf)