Victoria Industrial Properties marks entry into industrial market with $75M Northern VA transaction

NJ-based firm acquires 308,656 s/f Dulles Corridor industrial & flex portfolio

NORTHERN VIRGINIA — Victoria Industrial Properties, a real estate investment firm founded by veteran industry executive Jacob Schulder, has completed its first acquisition with the purchase of a seven-building industrial and flex portfolio in Northern Virginia’s Dulles Corridor, a transaction representing a $75 million capitalization.

The NJ-based firm acquired the portfolio from Klein Enterprises in partnership with Lincoln Equities Group, with InterVest Capital Partners providing LP equity. JLL Capital Markets arranged acquisition financing and helped facilitate the equity investment on behalf of Victoria.

The portfolio totals 308,656 s/f across 40 suites and was 90 percent occupied at closing. The seven shallow-bay and flex industrial buildings include 45745 Nokes Blvd. in Sterling; 380 and 400 Herndon Pkwy. in Herndon; and Chantilly Plaza I-IV at 14155, 14175, 14201 and 14225 Sullyfield Cir. in Chantilly.

The properties serve a diverse roster of industrial, technology, defense, healthcare, distribution and service-oriented tenants, including Honeywell, defense technology company Artis, Nightwing, Capital Electric and Inova’s blood donor and distribution facility. The buildings feature a mix of drive-in and dock-high loading and are positioned near Washington Dulles Int’l. Airport and major transportation routes serving Northern VA and the greater Washington, DC region.

“This acquisition reflects the investment strategy I had in mind when I formed Victoria Industrial Properties,” said Schulder. “We’re looking for industrial assets in strong markets where there are identifiable opportunities to create additional value. The Dulles Corridor is particularly compelling because data center development continues to reduce an already limited supply of industrial and flex space, resulting in favorable leasing dynamics for the remaining inventory. We believe those fundamentals support a compelling long-term environment for these assets.”

The JLL Capital Markets team that arranged the financing and helped facilitate the equity investment for Victoria’s Dulles Corridor acquisition was led by senior managing director Thomas E. Didio, managing director Jason Lundy, senior directors Max Custer, Evan Parker and Craig Childs, director Nazario Paragano and associate John Cumming.