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Newmark announced that it has completed the sale of the 350,000-square-foot Chantilly Distribution Center on behalf of an affiliate of American Realty Advisors. The property, located at 3900 Stonecroft Boulevard, was purchased by DWS Group’s Americas real estate platform.
Chantilly Distribution Center is an industrial site in the Chantilly submarket of Loudoun County, VA. The asset is located near the intersection of several major thoroughfares for the DC region, Route 50, Route 28, the Dulles Toll Road (267) and Interstate 66, making this an ideal last-mile location for Fairfax and Loudoun jurisdictions, the two wealthiest counties in the country. The property is currently 87 percent leased, is less than a mile and a half from Dulles International Airport and is under 25 miles to Washington, DC.
“With data center demand eating up both existing industrial assets and industrial-zoned land we are seeing great fundamentals for the existing industrial product in our market,” said Newmark’s James Cassidy. “We believe in future upside in industrial product based upon the barriers to entry that have been established coupled with the increasing demand for this type of space.”
Newmark’s Executive Managing Directors Jud Ryan and James Cassidy facilitated the sale.
About American Realty Advisors
American Realty Advisors (“ARA”) is a premier private equity real estate investment manager of institutional quality commercial real estate portfolios with more than 500 investors and $10 billion in assets under management. ARA is 100% employee owned and client focused. The firm was registered in 1990 with the U.S. Securities and Exchange Commission as an Investment Advisor under the Investment Advisers Act of 1940. ARA is also a fiduciary to its clients and acts in the best interests of its investors.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.