Aggregate Real Estate Investors acquires $58M industrial & retail real estate portfolio in Northern VA
FAIRFAX, VA — Aggregate Real Estate Investors has completed the $58 million acquisition of an 11-property commercial real estate portfolio in Northern Virginia from Clarke-Hook Corporation. The assets, contained within four separate business communities in Fairfax and Loudoun counties, consist of nearly 320,000 s/f of retail and industrial space, feature more than 90 tenants, and were cumulatively 94% leased at the time of the transaction. The tenant mix includes retailers, restaurants, service providers, manufacturing companies, industrial and distribution users and automotive-related groups.
“We are extremely familiar with the Northern Virginia real estate and business community, and adding this extremely well-located, institutional-quality portfolio perfectly aligns with our strategy of investing in high-performing and supply-constrained submarkets,” said Greg Jacobsen, managing principal of Aggregate Real Estate Investors. “These properties are substantially leased by stable, creditworthy tenants and provide a strong foundation for long-term ownership where our team can create additional value. We intend to immediately implement proven, proactive management protocols, complete aesthetic upgrades to improve the working environments, and nurture strong tenant relationships.”
Portfolio Summary
Dulles Trade Center: 40,529 s/f industrial building located at 23480 Rock Haven Way in Sterling, near Washington Dulles International Airport. The asset is leased to various Third-Party Logistics (3PL) tenants that manage warehousing to final-mile delivery.
McLean Commerce Center: 17,200 s/f retail building positioned at 1471-1475 Chain Bridge Rd.
West Fairfax Commerce Center: six industrial buildings totaling 150,000 s/f of space, located at 14506 Lee Rd. in Fairfax.
University Commerce Center: three buildings consisting of 106,000 s/f of retail and commercial office space at 44921 George Washington Blvd. in Ashburn.
“Fairfax and Loudoun counties remain among the most vibrant and economically-healthy submarkets in the country, in part due to the above-average demographics, diversity of businesses, proximity to the federal government, and the availability of a strong labor market. We look forward to working with the existing tenants and local stakeholders as we transition ownership and operate the properties for the long term. In addition, we intend to maintain an aggressive approach to identifying and acquiring value-add real estate opportunities.”
