Avison Young Arranges $142M Sale of Industrial Park in Northern Virginia
LORTON, VA. — Avison Young has arranged the $142 million sale of Gunston Commerce Center, an industrial/flex business park in Lorton, about 20 miles south of Washington, D.C.
NGP, formerly National Government Properties, purchased the property from I-95 Business Parks Management, according to the Washington Business Journal.
The park spans nine buildings and 600,000 square feet of rentable space. It is situated between the Pentagon and the Marine Corps Base Quantico.
The property is leased to a roster of tenants anchored by federal government contractors and the General Services Administration, which is the real estate management entity of the federal government that leases space on behalf of agencies such as the Department of Defense. The buildings are flexible in design, with uses ranging from office and warehouse to R&D and retail.
John Kevill, Jim Kornick, Chip Ryan, Michael Murrillo and Georgiana Condoiu of Avison Young marketed the property on behalf of the seller.
— Kristin Hiller and Alex Tostado