Two office buildings in Chantilly sell for nearly $20 million
Two flex-industrial buildings in Chantilly have sold for $19.9 million to Beckham Gumbin Ventures, a Scottsdale, Ariz.,-based real estate and development company.
The seller of the 245,888-square-foot office and warehouse space was the CIM Group, a real estate assets manager based in Los Angeles.
Overseeing the sale of the properties at 14320 and 14340 Sullyfield Circle were Avison Young Principals John Kevill, Chip Ryan and Bert Harrell, along with Senior Vice President Jesse Martin.
The buildings, located in Sullyfield Business Park, are near numerous amenities including hotels, restaurants and retailers.
“We’re seeing a growing demand for these type of buildings, particularly those close to major cities,” Harrell said in a statement.
Located at the intersection of Route 50 and Route 28, the properties feature access to two of the region’s main East-West highways — Interstate 66 and Route 267 (Dulles Toll Road).
Both buildings were constructed in 1986. Sullyfield Commerce Center I is a 146,011-square-foot, steel and brick building on a 7.5-acre site. According to Avison Young, it is 95 percent leased to seven tenants including Northrop Grumman.
Sullyfield Commerce Center II, a 99,877-square-foot building on 5.4 acres, is 63 percent leased to two tenants, Northrop Grumman and CACI International.
The properties are about 30 miles west of downtown Washington in the Dulles South submarket.
The market mainly supports the service, defense and cybersecurity sectors. Major employers, including the CIA and National Reconnaissance Office, are located nearby.
“These buildings attracted considerable interest from investors across the country,” Ryan said. “The properties were available at significant discount-to-replacement cost, and they’re located in a supply-constrained market.”