The Velsor Companies

In The Press

CoStar Realty Information, December 19, 2000

Velsor Buys Beltway Business Park

$22 Million for Alexandria Complex

Velsor Properties paid $22.02 million, about $81/square foot for six multi-tenant flex/ industrial buildings in the Beltway Business Park in Alexandria, VA. Bruce Strasburg of Trammell Crow Co. represented the seller, UBS Asset Management; Velsor represented itself in the transaction. The Beltway Business Park consists of 6460 and 6464 General Green Way and 5701, 5703, 5705 and 5655 General Washington Drive. The buyer reported average lease rates in the park of $8/square foot triple net and that the buildings were fully occupied at the time of sale. The six buildings comprise a total of 273,801 rentable square feet, 18-foot ceilings, and more than 25 loading docks. Major tenants include Gannett, Canon, and Autotrader.


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