1.9M-square-foot industrial park being built in Stafford
The Peterson Cos., JLL collaborating on Northern Virginia Gateway
Published
The Fairfax-based Peterson Cos. is building a 1.9 million-square-foot development in a 270-acre industrial park in Stafford County, and JLL will oversee the leasing, the companies announced Friday.
Northern Virginia Gateway, which is expected to be built out within a year, is on Centreport Parkway, off Interstate 95.
“Peterson’s initial foray into the metro D.C. industrial market yields the largest industrial lease in decades,” John Dettleff, senior managing director and JLL’s metro D.C. industrial team leader, said in a statement. “Peterson Cos. is currently mass grading the entire 270 acres. The site will be pad ready and can deliver buildings ranging from 100,000 to 900,000 square feet in just over 12 months from a signed lease.”
“Northern Virginia Gateway provides the three most important elements to an industrial occupier: scale, proximity to the nation’s sixth largest MSA and speed to market,” Taylor Chess, president of development at Peterson, said in a statement. “We have a dedicated team ready to deliver customized logistics solutions to Metro DC’s largest industrial occupiers.”
Construction on the first 630,000-square-foot building is underway.
“We are currently under construction on a build-to-suit for a Fortune 500 company,” Dettleff added in an email. “We are talking to several other tenants, but nothing is signed yet.”
The entire 270-acre site is being cleared and graded, which will enable Peterson Cos. to deliver buildings in a very short period of time, Dettleff said.
Peterson was the developer for National Harbor in Maryland, but this is its first major industrial project. To date, the company has 16 million square feet of office space that has been developed, owned and/or leased, with another 390 acres of commercial land in the pipeline.
JLL’s Dettleff, Dan Coats and Jake Servinsky will handle leasing at Northern Virginia Gateway.
Related Stories
Herndon office buildings acquired near Amazon Web Services
Goodstone LLC and Waterfall Asset Management secured $49.6M to acquire and renovate the buildings.
Northern Va. home prices rise, home inventory falls in February
Long & Foster president says COVID-19 will likely impact consumer confidence.
Fairfax real estate developer Milt Peterson dies
Chairman, founder of Peterson Cos. led development of National Harbor
