HFF arranges $23.6 million in financing for Alexandria industrial property

Published September 15, 2015 by Paula C. Squires

Holliday Fenoglio Fowler (HFF) said Tuesday that it has arranged $23.6 million in acquisition financing for a fully leased, three building warehouse complex totaling 246,145 square feet within Pickett Industrial Park in Alexandria.

Working on behalf of the borrower, an affiliate of JBG Core Venture I, L.P., HFF said it placed the 10-year, floating-rate loan with SunTrust Bank.

In June, HFF closed the sale of this asset to the JBG Core Venture group, a programmatic joint venture between CBRE Global Investment Partners and The JBG Cos.

Situated on 10.8 acres at 841-929 South Pickett Street inside the Capital Beltway, Pickett Industrial Park is less than a mile and a half from Interstate 395.   It's about 10 miles from The Pentagon, Fort Belvoir and Reagan Washington National Airport.

The complex is 100 percent leased to six tenants, including the General Services Administration, Commercial Carpets of America, Michael Baker Corp. and Habitat for Humanity of Northern Virginia.

Sue Carras, Walter Coker and Brian Crivella led the HFF debt placement team representing the borrower.