MCLEAN, VA — A McLean retail property is among 11 commercial buildings acquired as part of a $58 million Northern Virginia real estate deal announced Monday.
Fairfax-based Aggregate Real Estate Investors acquired the portfolio from Clarke-Hook Corporation. The properties are spread among four business communities in Fairfax and Loudoun counties and contain nearly 320,000 square feet of retail and industrial space, according to the company.
The acquisition includes McLean Commerce Center, a 17,200-square-foot retail building at 1471-1475 Chain Bridge Road. Tenants include My Gym, Kids Language Arts and several locally based service businesses.
Across the entire portfolio, the 11 properties have more than 90 tenants and were 94 percent leased when the transaction was completed. Businesses include retailers, restaurants, service providers, manufacturers, industrial and distribution companies, and automotive-related businesses.
"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, managing principal of Aggregate Real Estate Investors, said in a statement.
Jacobsen said the company plans to make aesthetic improvements to the properties, implement its management practices and work to maintain relationships with existing tenants.
In addition to the McLean property, the transaction includes Dulles Trade Center, a 40,529-square-foot industrial building in Sterling; six buildings totaling about 150,000 square feet at West Fairfax Commerce Center in Fairfax; and three buildings totaling about 106,000 square feet at University Commerce Center in Ashburn.
Aggregate Real Estate Investors focuses on acquiring and operating open-air retail and industrial properties in the Mid-Atlantic region.
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