Sale of Class A industrial center in suburban Washington, D.C. arranged by HFF
WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the sale of Springfield Newington Industrial Center, a 106,945-square-foot, 100-percent-leased, newly-renovated, Class A industrial warehouse center in the Washington, D.C. suburb of Lorton, Virginia.
HFF marketed the property on behalf of the seller, Bristol Capital Corporation. Stockbridge Capital Group, LLC purchased the asset.
Situated on 6.02 acres at 8424-8444 Terminal Road, Springfield Newington Industrial Center offers direct proximity to Interstate 95, which is less than one mile away, and to Fort Belvoir, which is less than four miles away. The one-story building features 24’ to 26’ clear heights, cross-dock loading, I-95 visibility and privatized outdoor storage capability. The property is 100 percent leased to three investment grade tenants including the General Services Administration and Associated Materials. In 2015, the property underwent an extensive exterior restoration that included a new building façade and roof.
The HFF investment sales team representing the seller was led by senior managing director Bruce Strasburg and associate director Michael Stuart.
“Springfield Newington Industrial Center is a rare opportunity to acquire an institutional quality, Northern Virginia warehouse facility that is fully leased to an investment grade tenant roster,” Stuart said. “The property is one of the most attractive and efficient industrial options in the I-95 Corridor and is poised to benefit from future growth in the greater Fort Belvoir area.”
About Bristol Capital Corporation
Bristol Capital Corporation is a full service real estate firm founded in August 1986. For over 25 years Bristol Capital’s primary focus has been the acquisition, development, and management of commercial real estate assets. Bristol Capital has developed a successful acquisition track record through investing in a variety of real estate asset classes including industrial, flex, self-storage, office, senior housing, and developable land. Bristol Capital has advised its clients in the financing, re-structuring or disposition of real estate assets valued at more than $1.5 billion
About Stockbridge Capital Group, LLC
Stockbridge Capital Group, LLC is a real estate investment management firm which, together with its affiliates, has approximately $8.8 billion in real estate and real estate-related assets under management as of September 30, 2014. Stockbridge’s investment portfolio comprises more than 30 million square feet of existing office, industrial, retail, hospitality and residential properties throughout the United States. In addition to real estate ownership, Stockbridge also specializes in large-scale development and redevelopment projects. Stockbridge is headquartered in San Francisco with offices in Chicago, New York, Atlanta and Los Angeles. For more information, please visit www.stockbridgerealestate.com.
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.