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Aggregate Real Estate Investors buys Northern Virginia portfolio for $58M
The 320,000-square-foot portfolio is 94% leased to more than 90 tenants across Fairfax and Loudoun counties, with plans for upgrades and new management initiatives.
Aggregate Real Estate Investors has acquired an 11-building industrial and retail portfolio in Northern Virginia for $58 million, Commercial Observer reports. The seller was Clarke-Hook Corporation, and the purchase brings a 320,000-square-foot portfolio into Aggregate’s holdings.
At the time of the transaction, the four business complexes in Fairfax and Loudoun counties were 94% leased to more than 90 tenants. The tenant mix spans retailers, restaurants, service providers, manufacturers, logistics companies, and automotive-related businesses.
The largest asset is West Fairfax Commerce Center, a six-building industrial complex of about 150,000 square feet at 14506 Lee Road in Fairfax. The deal also includes University Commerce Center in Ashburn with three buildings totaling about 106,000 square feet of retail and commercial office space, plus Dulles Trade Center in Sterling and McLean Commerce Center in McLean.
Aggregate said it expects to create additional value through aesthetic upgrades and new management initiatives across the portfolio. In a statement, Greg Jacobsen, the firm’s managing principal, said the properties are substantially leased by stable, creditworthy tenants and are positioned to support long-term ownership.