Herndon office building portfolio sells for $51M

A portfolio of four office buildings in Herndon sold for $51 million, Finmarc Management announced Thursday.

Dubbed Dulles Corner, the four buildings comprise nearly 620,000 square feet of Class A office space. Located at the intersection of Dulles Toll Road and Virginia Route 28, the properties are:

• 2411 Dulles Corner Park, an eight-story, nearly 180,000-square-foot office building built in 1990 and renovated in 2022,
• 13880 Dulles Corner Lane, a four-story, more than 150,000-square-foot office building completed in 1997, with improvements made in 2022,
• 2355 Dulles Corner Blvd., an eight-story, more than 180,000-square-foot office building constructed in 1988 and renovated in 2022,
• 13825 Sunrise Valley Drive, a two-story, roughly 105,000-square-foot office building completed in 1989, with improvements made in 2005.

The portfolio has more than 2,100 parking spaces, as well as conference facilities, a private fitness center, on-site restaurants, a day care and a park feature with walking paths, water features and outdoor eating areas.

Current tenants include Reston federal contractor Peraton, cloud technology company SAP National Security Services (SAP NS2), tech company DLT Solutions, defense contractor Mission Essential, federal contractor Valiant Integrated Services, tech company Synopsys and BlackSky Technology. Finmarc has space available to lease in the portfolio, and Cushman & Wakefield is overseeing leasing.

Bethesda, Maryland-based commercial real estate company Finmarc Management bought the properties from Brandywine Realty Trust. Eastdil Secured represented the seller. Aaron Rosenfeld with Kelley Drye & Warren provided legal services to Finmarc, and Cliff Mendelson with Metropolis Capital Advisors assisted in debt placement.

The Dulles Corner acquisition brings Finmarc’s 2024 transactional volume to about $210 million across almost 1.7 million square feet of office space, industrial real estate, data center land and retail space.

“We intend to remain aggressive in our pursuit of emerging institutional-quality, under-performing and value-add assets in the coming year,” Finmarc Principal Neil Markus said in a statement, adding that the mid-Atlantic, Northeast and Southeast regions are the company’s primary investment focus.

Finmarc previously acquired a four-building portfolio in Centreville in August 2024 for $39.36 million. Called Trinity Centre, the portfolio has almost 500,000 square feet of Class A commercial office space and is home to Carfax’s headquarters.

“Our recent acquisition of Trinity Centre, together with significant commercial real estate holdings in the Northern Virginia and greater Washington, D.C., market, validates our optimism about the long-term prospects of the region,” Markus said in a statement.