Jones Lang LaSalle closes sale in Chantilly
- December 3, 2012
Jones Lang LaSalle (JLL) has closed the sale of 25383 Pleasant Valley Road on behalf of Dulles South Partners, a partnership managed by Washington Properties Inc.
Pleasant Valley Tile LLC purchased the 36,024-square-foot flex building for an undisclosed amount and plans to use the property as a warehouse and showroom.
Jones Lang LaSalle Vice President John Dettleff and Associate Chuck LaRock represented the seller while A.J. Wood and Thomas McHugh of Cushman & Wakefield represented the buyer.
The property, built in 2009, is part of a four-building industrial/flex park known as Washington Dulles South. It is located near the intersection of Route 50 and Pleasant Valley Road in Chantilly.
According to JLL’s third-quarter industrial market report, warehouse/distribution vacancy has fallen 6.9 percent over the past 12 months and rental rates have increased 5.3 percent from mid-2011.