Manekin Plaza
Sterling, VA
The property consisted of five single story office buildings on 12.1 acres that is prominently located at the intersection of Nokes Boulevard and Cascade Parkway in Sterling, VA.
- Off market acquisition from Aetna Life Insurance who owned the asset through Foreclosure.
- Property consists of twelve acres of land in the heart of Data Center Alley in Sterling, VA.
- Achieved up-zoning required to accommodate and maximize data center development.
- Restructured and bought out leases to facilitate development.
- Sold to AWS two years after acquisition.
Building Size
110,000 sf
Acquisition Source
Off-Market
Equity Partner
Chestnut
Acquisition Price
$11.8 M
Redevelopment
$0.5 M
Total Project Costs
$12.3 M
Exit Price
$21.1 M
Date
June 01, 2019