H.I.G. Buys $17M Office Package on D.C.’s Route 28 South Corridor
- Mar 10, 2016
By Bogdan Odagescu, Associate Editor
Washington, D.C.—Global private equity investment firm H.I.G. Capital recently announced that affiliate H.I.G. Realty Partners acquired the Northridge at Westfields set of office assets in Chantilly, Virginia.
The buyer did not disclose the price of the transaction. However, Fairfax County’s records show a $17.25 million transaction for the property, recorded on the Jan. 6, 2016, between Westfields Northridge 29G LLC and Northridge Office LLC. The 2016 county evaluation assessed the portfolio at $14.1 million.
Sitting between Northridge Drive, Old Lee Road, Stonecroft Boulevard and a D.M.V. office, the lot comprises three buildings adding up to almost 100,000 square feet and a 12-acre adjacent parcel that could accommodate an additional 100,000 square feet of office.
Located within the Westfields Corporate Center and just a 10-minute ride away from Dulles International Airport, the property offers quick access to Interstate 66 and the Dulles Toll Road. Northridge at Westfields also sits in immediate proximity to the National Reconnaissance Office, Virginia D.M.V office, the Liberty office center and the Marriott Conference Center. With several U.S. government agencies expanding in the Chantilly area, H.I.G.’s recently acquired property could provide proximity for independent contractors or other corporate users that could benefit from these agencies’ location.
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