Velocis Sells Class A Office Portfolio in Northern Virginia
November 11, 2019STERLING, Virginia (November 11, 2019)– Velocis, a private equity real estate manager, has sold Loudoun Gateway I & II, a two-building, 179,864-square-foot Class A office portfolio in Sterling, Virginia.
Velocis purchased the buildings in 2015, recognizing the potential to be had in the recovering Northern Virginia market. Today, the property is 100% leased to three tenants, including a mission-critical facility for CACI International, a top government defense contractor. In total, CACI leases 160,209 square feet of the portfolio and has recently extended and expanded its lease.
“Loudoun I & II are well positioned to take advantage of the enormous momentum in Northern Virginia’s office market, which is being driven by defense contracting, tech and cyber security.” said Mike Lewis, partner, Velocis. “The success of this property is the result of extensive negotiations to accommodate and grow our anchor tenant that resulted in selling the portfolio fully stabilized to an investor with a long term hold strategy.”
Loudoun Gateway I & II was developed in 2000 and is located at 45195 and 45200 Business Court in Sterling, Virginia.
Dallas-based Velocis has been active in real estate since 2010, purchasing 31 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Partners in Fund II are Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith and David Seifert.
About Velocis
Velocis is a private equity real estate investment firm, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.
This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment.
