Plaza 500

Plaza 500

 

 

Plaza 500

Plaza 500

NORTHERN VIRGINIA | 503,000 sq. ft.

*purchased while senior management team at First Potomac Realty Trust

Property Overview

  • Former Drug Fair warehouse, headquarters and distribution facility
  • Combination of office, high bay distribution, yard space totaling 503,000 SF
  • 35 acres located inside of the Washington DC Beltway

 

Acquisition Details

  • Acquired in 1989 for $19M ($38psf) from Drug Fair
  • 100% vacant

 

Execution

  • Principals of DSC Partners handled the operation of the property for 28 years
  • Began preliminary planning to obtain approval to redevelop into a multi-million square foot mixed use development
  • Sold in February 2017 for $75M ($150psf)