JBG Cos. buys three-building warehouse complex in Alexandria
Holliday Fenoglio Fowler L.P. (HFF) said Monday that it has arranged the sale of a 100-percent-leased, three-building warehouse complex totaling 246,145 square feet in Pickett Industrial Park in Alexandria.
HFF marketed the property on behalf of the seller, a partnership between funds managed by Ares Management LP and Adler Group. The JBG Cos., based in Chevy Chase, Md., purchased the property for an undisclosed price.
Situated on 10.8 acres on South Pickett Street inside the Capital Beltway, Pickett Industrial Park is less than a mile and a half from Interstate 395. It also is less than 10 miles away from The Pentagon, Fort Belvoir and Reagan Washington National Airport.
According to HFF, the one-story buildings are leased to six tenants, including the General Services Administration, Commercial Carpets of America, Michael Baker Corp. and Habitat for Humanity of Northern Virginia.
The HFF investment sales team representing the seller was led by Senior Managing Director Bruce Strasburg, Associate Director Mike Stuart and Senior Real estate analyst Samuel Fagelson.
The JBG Cos. is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington, D.C., area.