Reclamation Partners announced that it has acquired a 101,587-square-foot light-industrial property located in Chantilly, Virginia, within the Washington, D.C. Dulles submarket. The acquisition was completed in partnership with Fox Capital Partners.
The multi-tenant facility sits on approximately 8.7 acres and features 12 dock doors and a 22-foot clear height. The property is fully leased and stabilized, with a weighted average lease term of 4.1 years at the time of closing.
The building is occupied by two tenants. MFG One, a specialty manufacturing company, leases 76,587 square feet under a five-year sale-leaseback agreement. Penske Automotive Group occupies the remaining 25,000 square feet and has recently completed a fleet maintenance build-out on-site, signaling a long-term commitment to the property.
The transaction was sourced off-market through a boutique brokerage relationship that also facilitated Reclamation’s recent acquisition of another industrial asset in Sterling, Virginia. The deal marks the firm’s second acquisition in the Dulles corridor within a two-month period, reinforcing its focus on logistics assets in high-demand infill submarkets.
Reclamation Partners is a real estate investment manager focused on acquiring, repositioning, and managing logistics properties across major markets in the Northeast United States. The firm targets infill locations characterized by dense populations, fragmented ownership, and aging industrial inventory that can benefit from modernization.
Fox Capital Partners is a real estate private equity firm specializing in industrial investments, including development projects and value-add acquisitions through discretionary funds and joint ventures.
KEY QUOTES:
“This is our second acquisition in the Dulles corridor in as many months, and it reflects our deep conviction in this submarket. We are acquiring a fully cash-flowing asset at a meaningful discount to replacement cost in a market where the supply constraints are only tightening.”
Matthew McCarthy, Managing Partner, Reclamation Partners
“The strength of this deal starts with the tenancy. Both MFG One and Penske have made meaningful investments in the space – MFG One through its specialized manufacturing operations and Penske through a recent fleet maintenance build-out – making them deeply embedded in the asset. We were able to move quickly on an off-market basis to secure a high-quality asset, as we continue building out Reclamation’s Northern Virginia portfolio.”
Daniel Connaughton, Managing Partner, Reclamation Partners
