Northern Virginia firm buys Byrd Corporate Park for $31.2 million

An affiliate of WestDulles Station LLC has purchased Byrd Corporate Park in Richmond for $31.2 million in an all-cash transaction.

The acquisition of the ten-building, 475,738-square-foot light industrial portfolio near Richmond’s airport represents the Northern Virginia firm’s first purchase in the Richmond market.

CBRE|Richmond, which announced the sale, said the seller was AF Byrd Center VA LLC,  a joint venture between Adler Real Estate Partners and Trigate Capital.

Will Bradley and Matt Anderson of CBRE|Richmond and Scott Adams of CBRE|Hampton Roads, in conjunction with Frank Fallon of the CBRE Inc. office in Atlanta, represented the seller.

WestDulles Station and its subsidiary, Byrd LLC, is a joint venture between Dreyfuss Investments and Wells Holding Group.  The new ownership has retained Dreyfuss Management of Bethesda, Md., for property management services.

Byrd Corporate Park, located at the intersection of South Laburnum Avenue and Charles City Road near Richmond International Airport, sits on 31 acres. The buildings were constructed between 1978 and 2003.

At the time of sale, the park was about 80% leased by more than 80 tenants representing a wide range of industries including corporate offices, distribution, and retail. Current tenants include McKesson, Fastenal, Wawa, CarMax, and DPR.