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Lorton complex with federal tenants fetches $142 million despite budget uncertainty

Federal agencies could be hard-pressed to keep paying rent on time depending on how long the shutdown lasts, but for now, their tenancy is still a sought-after commodity for real estate investors.

Among those interested investors is NGP, formerly National Government Properties. An affiliate of the company recently closed on a $142 million acquisition of the Gunston Commerce Center, a nine-building complex off Interstate 95 in Fairfax County, according to sources familiar with the transaction. The sale is in part reflective of how buyers of federally leased real estate tend to take a longer view of their investments, which can ebb and flow based on things like the current federal shutdown and a change in presidential administrations.

The complex of industrial and flex buildings along Furnace Road and Richmond Highway in Lorton is more than 90 percent leased to a mix of government contractors and federal agencies, including Lockheed Martin Corp., Northrop Grumman Corp., the General Services…

Read the full story from the Washington Business Journal.



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