LEESBURG, VA. — TA Realty, in collaboration with its data center development arm TA Digital Group, has sold two hyperscale data centers totaling 745,000 square feet in Leesburg, a city in Northern Virginia’s Loudoun County. The two facilities are the first completed buildings of a planned five-building, 450-megawatt (mW) hyperscale data center campus. The buyer and additional terms of the sale were not disclosed. The campus is set to be leased to a single, unnamed global cloud provider, according to Data Center Dynamics.
MCLEAN, VA. — JLL Income Property Trust, alongside investment partner LCOR, has sold Kingston at McLean Crossing, a 319-unit apartment community located at 7480 Birdwood Ave. in McLean, about 12 miles west of Washington, D.C. The Chicago-based REIT originally acquired the 15-story property in 2021, three years after the property was delivered. The buyer is Pantzer Properties, a multifamily owner-operator based in New York City, according to Apartments.com. Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia represented the seller in the transaction. The sales price was not disclosed. Pantzer has rebranded Kingston at McLean Crossing to The Point at McLean. Units come in studio to three-bedroom layouts ranging in size from 569 to 1,932 square feet. Amenities include a pool, fitness center, concierge, conference rooms, spa, EV charging stations and a playground. The property was 96 percent occupied at the time of sale.
CHARLOTTESVILLE, VA. — The University of Virginia has selected Capstone Development Partners for a 780-bed residence hall project on the university’s campus in Charlottesville. The development will include three buildings spanning 310,000 square feet at the corner of Copeley and Ivy roads. The project will offer apartment-style units for upperclassmen alongside a 19,000-square-foot dining and retail component. Capstone will serve as a fee developer responsible for the design and construction of the project, which is being financed by the university and is scheduled for completion in fall 2027. The development team also includes Elkus Manfredi Architects, Hoar Construction and Hourigan.
STERLING, VA. — KLNB has negotiated the $28.5 million sale of an 83,330-square-foot warehouse located at 45190 Ocean Court in Sterling, about 29 miles west of Washington, D.C. Ryan Goeller, Chase Stewart, Jeff Tarae and Tyler Cumberland of KLNB represented the buyer, JK Land Holdings, in the off-market transaction. The seller was an entity doing business as Sterling Davis Properties LLC. The current tenant, Belfort Furniture, plans to vacate the property in June. JK Land has tapped KLNB to market and lease the property going forward.
VIENNA, VA. — Cresa has arranged the $12 million sale of a vacant, 100,000-square-foot office building located at 901 Follin Lane in Vienna, about 17 miles west of Washington, D.C. Navy Federal Credit Union acquired the property from Zalco Commercial. Gene Sachs, Rich Rhodes and Dan Silverman of Cresa represented Navy Federal in the transaction. The property is situated on 9.1 acres across the street from Navy Federal’s headquarters and will be utilized for the time being as a parking lot. Future plans for the office building and surrounding land were not disclosed. The property has sat vacant for the past six years after being leased to an unnamed federal government tenant.
ARLINGTON, VA. — A joint venture between Crescent Communities and Rockefeller Group has closed on the land acquisition for NOVEL Arlington, a 530-unit apartment community located in Arlington, approximately five miles from downtown Washington, D.C. Situated on about 5.5 acres along South Glebe Road, NOVEL Arlington will include 493 multifamily residences and 37 townhomes across studio, one-, two- and three-bedroom floorplans, including both market-rate and affordable units. Designed around the concept of the “power to play,” the complex will feature 20,000 square feet of amenities such as a golf lounge with a full-swing simulator; clubroom with indoor-outdoor connectivity; private dining and watch-party room; courtyard with firepits, game zones and landscaping; rooftop resort-style swimming pool with cabanas; fitness center, solo fitness studio, sauna and recovery spaces; coworking nooks and social lounges; a record listening lounge; pet retreat and pet spa; resident market; and a privately programmed courtyard and public-private park with walking trails. The joint venture secured equity financing from Shimizu Realty Development and Mitsubishi Estate New York, a U.S. affiliate of Tokyo-based Mitsubishi Estate Co. Additionally, Sumitomo Mitsui Trust Bank, Limited New York Branch (SMTB) provided construction financing for the development. Other project partners include Bohler D.C. (civil engineer), Hord …
VIRGINIA BEACH, VA. — Berkeley Capital Advisors has arranged the $102 million sale of Landstown Commons Shopping Center, a 408,851-square-foot, open-air retail center located in Virginia Beach. Kohl’s, Ross Dress for Less, Best Buy, Old Navy and Ulta Beauty anchor the center. Other tenants include Bath & Body Works, Carter’s, Burlington, Five Below, Dollar Tree and PetSmart. Rob Carter of Berkeley Capital Advisors represented the seller, Rye, N.Y.-based Acadia Realty Trust, in the transaction. Moritt Hock & Hamroff represented the buyer, an affiliate of Yale Realty Services. Additionally, The Bank of Montreal provided $73.4 million in acquisition financing for the deal.
NEWPORT NEWS, VA. — Berkadia has arranged the sale of Compass at City Center, a 396-unit, garden-style apartment community located in Newport News. Drew White, Carter Wood and Cole Carns of Berkadia represented the sellers, C-III Capital Partners and Drucker + Falk, in the transaction. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey, also with Berkadia, secured an acquisition loan on behalf of the buyer, a joint venture between Penzance and Kettler. The sales price and loan amount were not disclosed. Originally built in 1985, Compass at City Center comprises 33 three-story buildings across a 25-acre site. The complex offers a mix of one-, two- and three-bedroom floorplans, averaging about 1,000 square feet in size. Amenities include a resident lounge and clubhouse, sun deck and fire pits, fitness center, swimming pool, playground, barbecue and outdoor dining areas and a dog park.
BLACKSBURG, VA. — A joint venture between LV Collective and Harrison Street Asset Management is set to break ground on Rambler, an 862-bed student housing development located near the Virginia Tech campus in Blacksburg. The eight-story community will span 577,671 square feet and offer 247 apartments and townhomes in studio, one-, two-, three-, four- and five-bedroom configurations. Shared amenities will include a ground-level coffee shop; coworking space with private study rooms; a multi-sport simulator; clubroom and social lounge; fitness center with a yoga and flex studio; wellness lounge with a sauna and cold plunge; and an outdoor pool deck with a hot tub. Site work began in December with completion scheduled for fall 2028. The development team for the project includes Brinkmann, Niles Bolton, Variant Collaborative, Ironwood and Foresight. DLA Piper provided legal counsel for the development.
BALTIMORE — Newmark has arranged the sale of a 1.4 million-square-foot Mid-Atlantic micro-bay industrial portfolio for $203 million. The portfolio includes 50 individual buildings and 600 tenants in the Baltimore-Washington corridor and Northern Virginia. Current tenants focus on local and regional distribution, light industrial, service-oriented and last-mile logistics uses. Ben McCarty, Cris Abramson, Nicholas Signor, Henry Pleszkoch and Sam Slater of Newmark arranged the transaction on behalf of an unnamed group of private sellers. Silverman Group was the buyer.
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