Avion Midrise III & IV, two Class A, newly constructed office buildings have been sold by Principal Real Estate Investors on behalf of an institutional client to Advance Realty. Bill Collins and Paul Collins of Cassidy & Pinkard represented the seller.
Avion Midrise III & IV total 143,011 square feet and are 100% leased to Lockheed Martin and GSA respectively. The property is located within the Avion Business Park, a 188-acre master-planned business community in the center of Dulles Corridor in Northern Virginia’s Chantilly sub market. The freestanding, three-story buildings were newly constructed in 2001 and 2003. Typical floorplate size is 23,685 square feet. Avion Business Park’s blend of natural beauty, distinctive landscaping and quality architecture provide a unique corporate environment enhanced by amenities such as a fitness center, jogging trails and café.
Cassidy & Pinkard serves the Mid-Atlantic Region from headquarters in Washington, DC and locations in Rockville, Maryland and Tysons Corner, Virginia. In 2003, Cassidy & Pinkard completed nearly $2.6 billion in transactions, $29 million in project management, and at year-end, managed nearly 5 million square feet, in 47 commercial and retail properties. Services include investment sales, financing, tenant representation/corporate services, project management, landlord representation, property management, and market research. Cassidy & Pinkard is the largest locally owned full service real estate brokerage and service company in the Washington metropolitan area.
About Principal Real Estate Investors
Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors, manages or subadvises over $24 billion in commercial real estate assets. Principal Real Estate Investors is the sixth largest institutional real estate manager in the United States based on tax-exempt assets under management. Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®, Principal Global Investors manages $108 billion in assets for retirement plans and other institutional clients.
