A pair of commercial centers in Fairfax County could get some updates after changing hands last week in a $58 million deal.
The McLean and West Fairfax commerce centers were acquired on Aug. 28 by the Fairfax-based commercial real estate firm Aggregate Real Estate Investors, which also took over two properties in Loudoun County as part of the transaction with Chantilly’s Clarke-Hook Corporation.
In total, the deal encompassed 11 buildings with nearly 320,000 square feet of retail and industrial space, Aggregate said in a press release. The properties collectively host more than 90 different tenants and are 94% leased.
“We are extremely familiar with the Northern Virginia real estate and business community, and adding this extremely well-located, institutional-quality portfolio perfectly aligns with our strategy of investing in high-performing and supply-constrained submarkets,” Greg Jacobsen, Aggregate’s managing principal, said in the release.
Originally constructed in 1968, per county property records, the McLean Commerce Center is a two-story, 17,200-square-foot retail building located at 1471-1475 Chain Bridge Road in the heart of McLean’s Community Business Center. Current tenants include My Gym, Kids Language Arts, The Gourmet Basket, Village Eye Center, and Prima Hair Day and Spa, among other mostly service-oriented businesses.
The West Fairfax Commerce Center, meanwhile, consists of six one-story industrial buildings constructed in 1985 at 14506 Lee Road in Chantilly. Totaling approximately 150,000 square feet of space, the property hosts a mix of manufacturing, warehousing, service and restaurant tenants, including Weber’s Pet Supermarket, Haute Fabrics, Frontline Collectibles, Emblemax and Taco Zocalo.
The industrial Dulles Trade Center in Sterling and retail-focused University Commerce Center in Ashburn were also included in the deal.
Aggregate didn’t detail its plans for the acquisitions in the press release, but Jacobsen indicated that they will continue to operate as commercial properties, highlighting their leasing stability while noting plans for “complete aesthetic upgrades to improve the working environments.”
“We look forward to working with the existing tenants and local stakeholders as we transition ownership and operate the properties for the long term,” Jacobsen said.
The spelling of Greg Jacobsen’s name has been corrected.
