Washington Business Journal, December 15, 2000
closes $40M worth of Northern Virginia deals
An avalanche of deals closed in the last month for McLean-based Velsor Properties.
Velsor spent $38.2 million on 11 one-story buildings -- each fully leased -- in Northern Virginia. The 3-year-old company now owns 27 buildings totaling 1.4 million square feet of industrial and office space in Northern Virginia.
The company's latest deal: the $24 million acquisition of six buildings totaling 274,000 square feet on Edsall Road off I-395 in Alexandria. Trammel Crow brokered the deal. Tenants include Gannett/USA Today, AutoTrader and Canon.
Velsor (http://www.velsor.com) also owns 12 contiguous buildings at Sullyfield Circle in Chantilly totaling 575,000 square feet. The buildings are known as Dulles Corporate Center at Sullyfield.
Larry Horowitz, president of Velsor, says potential growth of the airport, population and tech and defense industries are reason enough to aggressively invest in Northern Virginia.
"We believe," he says.