The asset was acquired in August of 2022 from an institutional owner in a end of fund life sale. The asset is located at the easternmost exit along the Dulles Toll Road, offering unmatched driving access throughout the region.
- The asset is situated on 7.64 acres of land in the Parkridge Business Park off the Dulles Toll Road in Reston, Va.
- Purchase price approximately sixty percent below last trade and approaching land value.
- Certainty of close allowed SIP to be the winning bidder without being the highest bidder.
- Low basis allows for multiple exit strategies including, re-development to self storage, conversion to medical office, as well as data center development all of which are permitted by zoning.