HERNDON, VA. — JLL Capital Markets has brokered the $113.5 million sale of Dulles Executive Plaza in Northern Virginia’s Herndon. The two-building, Class A office complex totals 384,336 square feet.
Dulles Executive Plaza is located at 13530 and 13560 Dulles Technology Drive. The Innovation Center Silver Line Metro Rail Station, scheduled to open later this year, will connect the property to the broader Washington, D.C. region.
Built from 2000 to 2001 and renovated in 2019, the office complex features amenities such as a conference center, fitness facility, tenant lounge and food service. The property is 94 percent leased to tenants such as Lockheed Martin and Constellis.
Matt Nicholson, Jim Meisel, Andrew Weir and Dave Baker of JLL represented the seller, a partnership between affiliates of Lionstone Investments and funds advised by Columbia Real Estate Management, which is a subsidiary of Columbia Property Trust. The team also procured the buyer, Innovatus Capital Partners LLC.
Paul Spellman, Rob Carey and Susan Carras of JLL secured an undisclosed amount of acquisition financing on behalf of Innovatus.
New York City-based Innovatus is an independent advisor and portfolio management firm with approximately $1.5 billion in assets under management.
— Kristin Hiller