Monday Properties, a leading national real estate investment firm, announced today its acquisition of Dulles Metro Center, a 225,029 square foot Class A office building located within walking distance of the future Innovation Center Metro station along the Dulles Toll Road in Herndon, Virginia.
The 96% leased, transit-oriented office asset is located in the heart of the Dulles Technology Corridor, adjacent to Dulles International Airport. The recently renovated building offers tenants a comprehensive best-in-class amenity package, including a modernized lobby, expansive fitness center, tenant lounge with catering facility, state of the art conference center, and outdoor patio that offers collaborative workspaces with WiFi.
“Dulles Metro Center is located in one of the best performing Northern Virginia submarkets and we anticipate sustained leasing momentum,” said Tim Helmig, Managing Partner for Monday Properties. “Monday Properties continues to seek valuable investment opportunities as we look to expand further in Northern Virginia.”
The property includes a wide range of tenants in the engineering, technology, and government contracting industries. The delivery of the future Innovation Center Metro station in 2020 will not only enhance the existing tenant experience, but will also provide for sustained leasing momentum for the future.
“This acquisition aligns with our broader investment thesis centered on transit-oriented development in Northern Virginia. Dulles Metro Center is in a micromarket with a rapidly evolving 24/7 live-work-play environment that will greatly enhance the tenant experience,” said Wes Machowsky, Senior Vice President of Acquisitions for Monday Properties.
Monday Properties remains committed to the Northern Virginia market, where the firm has a strong track record, and anticipates further growth due to the region’s strong economy, employment, and growth in the tech sector. Monday Properties has transacted on over 650,000 square feet of leasing activity over the past 18 months as corporations look to take advantage of Northern Virginia’s proximity to the Washington, D.C. core as well as major regional transportation hubs.
About Monday Properties: Monday Properties is a dynamic real estate investment firm that operates each property within its portfolio. Founded in 1998, the company is an owner, operator and developer of real estate with a primary focus on supplied constrained markets and value add real estate opportunities in growth markets. Since 2002, Monday Properties has completed over $13 billion in over 60 separate transactions, representing 28 million square feet. Monday Properties invests its own capital alongside its partners and investors, creating a clear alignment of interest and an incentive to realize value.