TA Realty has expanded its industrial portfolio by acquiring a fully let, 734,606 square foot warehouse portfolio in Northern Virginia for USD 132 million. The Boston-based investor purchased the Featherstone Industrial Park, comprising a total of 13 buildings, from a joint venture between Rosenthal Properties and Stockbridge.
The achieved sale price is almost 27 per cent higher than the amount paid by the sellers just five years ago for the property. Newmark acted as the broker in the recent transaction. The Business Journals first reported the completion of the agreement. A request to TA Realty for comment initially remained unanswered.
Details of Featherstone Industrial Park
The property is fully occupied by 45 tenants from various industries. It is located along Farm Creek and Persistence Drives, approximately three miles from Interstate 95. The site is designated for heavy industrial use and also includes outdoor storage areas and potential for future redevelopment or development projects.
TA Realty's involvement in the region
TA Realty manages assets worth USD 19 billion across the industrial, multifamily, office, retail, and data centre sectors. The company has been particularly active in the Greater Washington, D.C. region recently. Last month, a subsidiary of TA Digital Group acquired building rights for a data centre project in Sterling, Virginia, for USD 60 million.
Furthermore, other affiliated entities sold two data centres in Leesburg, Virginia, to Ares Management for a total of USD 555 million. These transactions underscore TA Realty's strategic commitment to the region and its efforts to further expand its presence in growth segments of the real estate market.
- —Seller: Joint venture between Rosenthal Properties and Stockbridge
- —Buyer: TA Realty (Boston)
- —Transaction volume: USD 132 million
- —Area: 734,606 square feet
