Press Release brought to you by HFF

HFF arranges sale of 3-building industrial park in Alexandria, Virginia

06/15/2015

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the sale of a 100-percent-leased, three-building warehouse complex totaling 246,145 square feet within Pickett Industrial Park in Alexandria, Virginia.

HFF marketed the property on behalf of the seller, a partnership between funds managed by Ares Management, L.P. and Adler Group.  The JBG Companies purchased the asset.   

Situated on 10.84 acres at 841-929 South Pickett Street inside the Capital Beltway in Alexandria, Virginia, Pickett Industrial Park is less than a mile and a half from Interstate 395.  The Pentagon, Fort Belvoir and Reagan Washington National Airport are all less than 10 miles away from the property.  The one-story buildings have 24’ clear heights and a total of 34 dock-high loading doors with seven drive-ins.  The complex is 100 percent leased to six tenants, including General Services Administration, Commercial Carpets of America, Michael Baker Corporation and Habitat for Humanity of Northern Virginia.

The HFF investment sales team representing the seller was led by senior managing director Bruce Strasburg, associate director Mike Stuart and senior real estate analyst Samuel Fagelson.

About Ares Management, L.P.
Ares Management, L.P. (Ares) is a publicly-traded, leading global alternative asset manager with approximately $87 billion of assets under management as of March 31, 2015, and more than 15 offices in the United States, Europe and Asia.  Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles.  Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance.  Ares was built upon the fundamental principle that each group benefits from being part of the greater whole.  For more information, please visit www.aresmgmt.com.

About Adler Group
With more than 50 years of leasing, property management, acquisitions, investment, development and construction experience, Adler Group and its affiliates offer a seamless network of realty services designed to maximize the value and strength of real estate assets.  Throughout its history, Adler Group has developed and acquired in excess of 18 million square feet of industrial, office, retail and residential real estate.  For more information, visit www.adlergroup.com.

About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties.  The company has more than $10 billion in assets under management and development in the Washington, D.C. area.  Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities.  For more information, please visit www.JBG.com or find them on Twitter @TheJBGCompanies and Facebook (facebook.com/TheJBGCompanies).

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

06/15/2015 - 15:30

Source

HFF

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