ING Clarion Partners Sells 7701 Southern Drive in Northern Virginia for $28.5 Million

ING Clarion originally acquired the facility in mid-2005 for $23.35 million. Located in Fairfax County, the property provides access to both Washington, D.C. and the Northern Virginia area, two of the country’s stronger industrial markets. Following the acquisition, the firm brought in a number of major new tenants including Coca Cola Enterprises, AAA and Bay State Pools.

“Fairfax County is a primary distribution hub for the region and provides a very attractive location for industrial tenants,” said Marc C. DeLuca, Director at ING Clarion. “By investing in the facility and adding new tenants, we were able to add significant value to the property and realize a solid return for our clients over a relatively brief holding period. We continue to like the Northern Virginia industrial market, and anticipate making further investments here in the future.”