Federal Capital Partners® (FCP) announced the $84 million acquisition of One Dulles Tower, a 400,000 square foot Class A office building prominently located at 13200 Woodland Park Drive on the Dulles Toll Road in Herndon, VA, just two miles east of Dulles Airport.
FCP Vice President, Erik Weinberg, said, “One Dulles Tower, which has been 100% leased to Booz Allen Hamilton (NYSE: BAH), will be vacated at the end of the year, providing FCP with the perfect opportunity to renovate and reposition the building. With the largest contiguous block of space on the Toll Road and upgraded amenities, lobby and common areas, One Dulles Tower will be highly competitive in the headquarters office building offerings in the Dulles Corridor.”
“We are thrilled to be working with the team at FCP and are excited to reintroduce One Dulles Tower to the marketplace,” said Cushman & Wakefield Executive Director, Matt Bundy, who has been selected, along with colleague Josh Masi, to provide leasing services for One Dulles. “The prominence of this asset is simply unmatched. The highly efficient floor plan and amenities that today’s tenants demand are already in place, including conference facilities, fitness center, 4/1,000 covered parking ratio, convenient food service and outdoor collaboration space with water views.”
One Dulles Tower directly faces the Dulles Toll Road to the north and overlooks a lake to the south. The building is located within the upscale Woodland Park master planned development, with extraordinary 360-degree views, convenient access to more than 140,000 square feet of retail, a hotel and 5-acre park and is one half mile from both the future Herndon and Innovation Center Silver Line Metro Stations.
FCP extends its appreciation to Bill Collins, Paul Collins, James Cassidy, Jud Ryan and Drew Flood of Cushman & Wakefield for their representation of the seller, Corporate Office Properties Trust (NYSE: OFC).
About Cushman & Wakefield
Cushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment management (branded DTZ Investors), project & development services, tenant representation and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About Corporate Office Properties Trust (COPT)
COPT is an office Real Estate Investment Trust (REIT) that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of which are engaged in defense information technology and national security-related activities. As of June 30, 2015, COPT derived 75% of its annualized revenue from its strategic tenant niche properties and 22% from its regional office properties. The Company generally acquires, develops, manages and leases office and data center properties concentrated in large office parks primarily located near knowledge-based government demand drivers and/or in targeted markets or submarkets in the Greater Washington, DC/Baltimore region. As of June 30, 2015, the Company’s consolidated portfolio consisted of 179 office properties totaling 18.0 million rentable square feet. COPT is an S&P MidCap 400 company.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com