Virginia Investors Snap Up $62.5M Dulles Tech Corridor Portfolio
Victoria Industrial Properties and Lincoln Equities Group have acquired a seven-building flex industrial portfolio in Northern Virginia's Dulles Tech Corridor for $62.5 million.
The portfolio, sold by Baltimore-based Klein Enterprises, includes properties at 380 and 400 Herndon Parkway in Herndon, as well as assets in Sterling and Chantilly's Sullyfield Business Park.
Leased to tenants such as Honeywell, Artis, and Inova, the properties benefit from limited land and rising replacement costs in the region.
The sale comes as Klein shifts its focus toward grocery-anchored retail and multifamily. The company's Chief Investment Officer Sean Garland noted that rents across their holdings have increased due to competition from data center development.