Contact Us
News

Goldstar Group, CrossHarbor Acquire Chantilly Office Building For $16M

Washington, D.C. Office
Washington, D.C. Office
March 01, 2016 Chris Feery, Bisnow
Placeholder

The upside opportunities in Chantilly have spurred a JV of Bethesda-based The Goldstar Group and Boston-based CrossHarbor Capital Partners to make a large office building purchase, and the partners appear to be on the lookout for more opportunities in the DC metro area.

Goldstar and CrossHarbor have acquired a three-story, 150k SF office building at 14200 Park Meadow Dr in the Westfields Office Park from Carr Properties for $16.35M. The building, branded as Victory Point, was 82% leased at the time of the sale and recently underwent $2M in improvements that included extensive upgrades, a renovation of the common area lobby and the installation of a fitness and health center.

This marks the first transaction completed by the JV of Goldstar and CrossHarbor, but it sounds like it won’t be the last.

“Our two companies are working together to seek additional opportunities in the greater Washington DC metropolitan area to complement this purchase,” Goldstar CEO Michael Brodsky says.

Victory Point is just off the Route 28 corridor, an area that has one of the lowest office vacancy rates in the NoVa office market at 17%. Chantilly has benefited from being in the heart of the area’s cybersecurity and tech hub, which helps to keep interest high in the city’s suburban office parks.

Continue reading this story with a free account.

Log in or Register