Goldman Sachs Sells DC-Area Office Campus
The property last traded six years ago for $45 million.
Herndon Metro Plaza I & II has changed hands. The Class A office campus in Herndon, Va., totals 204,029 square feet. The property last traded in 2016, when the previous owner, Goldman Sachs Asset Management, acquired the buildings for $44.5 million, from Brandywine Realty Trust.
Matt Nicholson, Dave Baker, Andrew Weir, Jim Meisel and Kevin Byrd of JLL Capital Markets represented the seller in the current transaction, while the Debt Advisory team, consisting of Drake Greer and Dan McIntyre, represented the buyer and worked to secure a fixed-rate loan through Tristate Capital Bank.
This summer, another high-profile sale took place in Northern Virginia, when Boston Properties sold a 740,000-square-foot flex office, industrial and data center portfolio for $127.5 million.
Class A office campus in suburban Washington, D.C.
Completed in 1991 and 1997, Herndon Metro Plaza I & II are located on a 6.5-acre site. The four-story buildings feature 26,700-square-foot floorplates. Office amenities include a conference center, tenant lounge and underground parking, with a ratio of 3.5 parking spaces per 1,000 square feet. The two properties are 53 percent leased. Tenants in the buildings include APEX, Metropolitan Washington Airports Security, ViON, and Ascota, among others.
The two buildings are located at 196 and 198 Van Buren St., 25 miles from Washington D.C., close to Dulles International Airport. The area surrounding the properties is home to companies including Volkswagen Group of America and Deltek Inc. Tenants have access to several amenities in the area, including restaurants and parks. The office complex is close to the Herndon Metrorail Station, which offers Silver Line access throughout Greater Washington, D.C.