Innovatus Capital Partners, LLC is pleased to announce its acquisition of Dulles Executive Plaza located at 13530 & 13560 Dulles Technology Drive in Herndon, Virginia. Dulles Executive Plaza consists of two Class A properties totaling 384,336 square feet. The property is 94% leased and recently underwent a $4.7MM renovation with the construction of a market-leading amenity center featuring a tenant lounge, conference center, on-site food service, and fitness center. Lincoln Property Company has been retained to lease and manage the property in the expansion of a national partnership between Innovatus and LPC.
“The acquisition of Dulles Executive Plaza is another example of Innovatus’ strategy of identifying and acquiring best-in-class office properties in certain high growth micro markets.” said Bradley Seiden, Managing Director, Innovatus Capital Partners. “We look forward to building a hub of properties in this location.”
Dulles Executive Plaza is located in a burgeoning transit-oriented, mixed-use environment centered on the Innovation Center Silver Line Metro Rail Station and the Dulles Toll Road. With the Station’s opening later this year providing public transportation access from Downtown DC to Dulles Airport, Dulles Executive Plaza will benefit from this enhanced connectivity within the greater Washington, DC. The arrival of the Dulles Toll Road and Silver Line have spurred the development of a “Dulles Technology Corridor”, stretching between Route 267, Dulles Toll Road and Route 7. The Dulles Technology Corridor has become the epicenter of federal government spending in cloud computing and technology, with Amazon Web Services, Microsoft and Google all committing and growing in this market.
“Innovatus is pleased to increase its holdings in Northern Virginia with the acquisition of Dulles Executive Plaza,” said Tom Wasko of Innovatus. “The property’s best-in-class amenity buildout coupled with its irreplaceable infrastructure has attracted a name brand roster of defense and cybersecurity industry tenants. We are believers in Northern Virginia’s long-term growth as defense and technology companies such as Microsoft and Amazon Web Services continue to expand their presence in this market – opening of the Silver Line will further accelerate Northern Virginia’s economic expansion. We look forward to working closely with our tenants in maintaining this asset’s reputation as being one the top office assets in the area.”
Lincoln Property Company and Innovatus have a longstanding history of working together both nationally and in the Washington, D.C. area market and look forward to partnering on this venture.
About Innovatus Capital Partners, LLC
Innovatus Capital Partners, LLC is a boutique specialty finance firm focused on creating value for investors in emergent asset classes, private credit and asset-based investments, based in New York. Innovatus has assets under management in excess of $1.5 billion. Innovatus has a dedicated team of real estate investment professionals with deep experience in commercial real estate acquisitions, recapitalizations and asset management across core-plus and opportunistic real estate investments amongst all property types including office, multifamily, hotel, retail, medical, and industrial. Innovatus and its principals have significant real estate experience with ventures that range from the creation of a CMBS lending group and servicing platform to making equity investments in developments and single asset purchases. Further information can be found at innovatuscp.com.
About Lincoln Property Company
Lincoln Property Company is a Dallas, Texas based global real estate company with offices in more than 450 cities in the United States and ten cities throughout Europe. As a one of the largest privately-held, full-service real estate firms in the U.S., it provides real estate investment and acquisition, property management, engineering and facilities management, development management, construction management, and brokerage services worldwide. Lincoln Property Company currently has $82 billion in total assets under management, has 406 million square feet under leasing and/or management, and has developed 138 million square feet of office, residential and industrial space. For more information on Lincoln Property Company, please call 202.513.6700 or www.lpcwashingtondc.com
