[[{“value”:”
Reclamation Partners, in partnership with Fox Capital Partners, has acquired a 101,587-square-foot light-industrial building in Chantilly, Virginia, in Washington, D.C.’s infill Dulles submarket. The property is located at 14851 Stonecroft Center Court and adds to the buyers’ presence in the Dulles corridor.
The multi-tenant facility sits on 8.7 acres and features 12 dock doors and a 22-foot clear height, positioning it for distribution and light-industrial use. At closing, the building was fully stabilized, with 100% occupancy and a weighted-average remaining lease term of 4.1 years.
MFG One, a specialty manufacturing operator, is the primary tenant, occupying 76,587 square feet through a five-year sale-leaseback. Penske Automotive Group leases the remaining 25,000 square feet, rounding out the fully leased roster at the time of acquisition.
Reclamation Partners described the deal as its second acquisition in the Dulles corridor in as many months, underscoring the firm’s focus on this industrial submarket. The buyer characterized the asset as fully cash-flowing at the time of purchase.
Matthew McCarthy, managing partner at Reclamation Partners, said the transaction reflects the firm’s strong conviction in the Dulles submarket. He noted that the partnership is acquiring the property at a meaningful discount to estimated replacement cost, in a market where supply constraints are said to be tightening.
The acquisition expands Reclamation Partners’ and Fox Capital Partners’ industrial footprint in the greater Washington, D.C. region, anchored by a long-term sale-leaseback with MFG One and a lease with Penske Automotive Group. No pricing or financing details were disclosed.
The post Reclamation Partners, Fox Capital Acquire Fully Leased 102K-SF Industrial Asset in Chantilly appeared first on CRE Market Beat.
“}]]
