Loudoun office park sells for $11.8 million
- September 10, 2019
A five-building professional office park in Loudoun County has been sold for $11.8 million.
Rockville, Maryland-based Edge Commercial Real Estate brokered the sale of the 113,000-square-foot Plaza @ Loudoun Tech, which is in the Sterling area.
Built in 1989, the business park is located near the intersection of Cascades Parkway and Nokes Boulevard.
The property is less than one mile from a Dulles Parkway interchange and about eight miles from Washington Dulles International Airport.
According to property records, the previous owner was Aetna Life Insurance Co. The buyer is Stewart Investment Partners, a Washington, D.C.-based wealth management firm.
The office park is 60% leased. Existing tenants include Inova Health System Toyon Research Corp. and Schnabel Engineering.
Joe Friedman and Haley Goeller of Edge Capital Markets Group and Todd McManus and Scott Rabin of the firm’s Northern Virginia landlord advisory team represented the seller.
Edge has been retained as the exclusive leasing firm by the new ownership group, with regional manager Scott Rabin and senior vice president Todd McManus working on behalf of the investment firm
Founded in 2007, Edge currently leases and manages more than 8.5 million square feet of commercial office, flex/office, industrial/warehouse, retail and mixed-use space.