Manekin Plaza

Sterling, VA
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  • Off-market acquisition of five single story office buildings located in Sterling, VA on 12 acres of land.
  • Multiple value add strategies exist including lease up and redevelopment of the underlying land.
  • Site identified in Loudon County Comp Plan to increase in FAR from 0.3x to potentially 1.0x.
  • Site is currently underdeveloped; increase in FAR could be close to 5x more than existing.
  • Located in a Qualified Opportunity Zone.
Building Size

110,000 sf

Acquisition Source

Off-Market

Equity Partner

Chestnut

Acquisition Price

$11.8 M

Redevelopment

$0.5 M

Total Project Costs

$12.3 M

Exit Price

N/A

Date
Category
Commercial, Sterling, VA