Dominion Virginia Power buys 5-acre parcel in Sterling for a transformer station
New Boston Fund, Inc., a private equity real estate investment, development and management firm, said Tuesday that it has sold a five-acre land parcel adjacent to TransDulles Centre in Sterling to Dominion Virginia Power Co., which plans to build a transformer station on the site.
A spokesperson for Richmond-based Dominion confirmed the purchase for a future project, but provided no additional comment.
The purchase price was not disclosed. According to New Boston, the transformer will provide a second means of power to the surrounding region and the office park including the TransDulles Centre and Rockwell Collins headquarters.
“We are very pleased that this sale will bring added benefit to the entirety of the TransDulles Office Park,” Jim Kelleher, chief investment officer at New Boston Fund, said in a statement. “With many tenants renewing their leases, we are able to make this already attractive space a higher quality offering in this submarket.”
Acquired by New Boston in 2007 along with TransDulles Centre, the original parcel was divided into two lots. On one lot, New Boston completed a 178,234-square-foot, build-to-suit office and manufacturing facility for Rockwell Collins, which provides communication and aviation electronics solutions.
The remaining lot, purchased by Dominion, sits between TransDulles Centre and Rockwell Collins and backs up to a former rail line.
TransDulles Centre includes two Class-A office buildings totaling 149,763 square feet. It is located north of Washington Dulles International Airport in the Route 28 North submarket about half a mile from the interchange at Route 28, the major north/south highway in the region.