Newmark announces the sale of 14200 Park Meadow Lane in Chantilly, Virginia for $23.65 million on behalf of Goldstar and CrossHarbor. The 147,000-square-foot building, known as Victory Point at Westfields, was purchased by an affiliate of AAFMAA, a leading financial solutions provider offering military life insurance, wealth management, survivor assistance & mortgage services.
“Goldstar and CrossHarbor’s efforts to renovate and re-tenant Victory Point proved fruitful with a 96 percent occupancy rate at sale,” said Jud Ryan, Executive Managing Director at Newmark. “Investors were attracted to the diversified rent roll, Class A renovations and the ability to make a sector bet on the defense industry.”
Originally built in 1989, Victory Point underwent renovations in 2016 adding a premier fitness center with locker rooms, on-site floor café and an outdoor plaza area. The building also has abundant parking for tenants and guests.
Located in the Route 28 South submarket in Fairfax County, Victory Point enjoys proximity to Dulles International Airport as well as federal government entities such as the National Reconnaissance Office and a major CIA campus, as well as Amazon Web Services. Victory Point is just a seven minute walk from The Field at Commonwealth which features shopping, dining and entertainment to serve Westfields.
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 18,000 professionals operate from approximately 480 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.
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