Newington Business Center
NORTHERN VIRGINIA | 256,000 sq. ft.
*purchased while senior management team at First Potomac Realty Trust
- Small bay industrial buildings located in the Newington submarket with easy access to I-95
- Seven buildings totaling 256,000 SF
- 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
- Principals of DSC Partners handled the operation of the property for the entire 16 years
- Sold in December 2015 for $32.5M ($127psf)