SF Firm Snaps Up Lorton Warehouse
- Aug 06, 2015
Holliday Fenoglio Fowler, L.P. has arranged another sale in the Washington, D.C., area. This time, the subject of the transaction is a Class A warehouse center in Lorton.
The Springfield Newington Industrial Center, as the facility is known, was acquired by Stockbridge Capital Group for an undisclosed price. HFF marketed the property on behalf of the seller, Bristol Capital Co. The HFF investment sales team included Senior Managing Director Bruce Strasburg and Associate Director Michael Stuart.
PropertyShark reports that the Springfield Newington Industrial Center was acquired by Bristol in 2002 for $5.7 million. The same real estate website puts the property’s current market value at $9.3 million.
Located on a six-acre site at 8424-8444 Terminal Road, Stockbridge’s new facility is a one-story building with about 107,000 square feet of space, 24- to 26-foot clear heights, cross-dock loading, I-95 visibility and a privatized outdoor storage capability. This year, it underwent an extensive exterior restoration that included a new building façade and roof. The Springfield Newington Industrial Center is currently fully leased to three investment-grade tenants, including the General Services Administration and Associated Materials.