The Pinkard Group Acquires Class A Office Building in Herndon, VA

2/5/17

The Pinkard Group of Bethesda has acquired Dulles Creek, a Class A office building located at 13800 Coppermine Road in the Dulles Corner submarket of Herndon, Virginia. Dulles Creek is proximate to the forthcoming Innovation Center Metro Station along Metrorail’s new Silver Line.

Currently eighty-seven percent leased, the property was purchased from Brickman Dulles Creek, LLC. The Pinkard Group plans to make strategic investments in the property in order to enhance the building’s superior features and attract additional high quality tenants from Herndon’s diversified tenant base.

Completed in 2001, the 90,000-square-foot, four-story building features flexible column-free floor plates and high ceilings with expansive views on all sides. Dulles Creek’s anchor tenant is Regus, the largest executive office provider in the United States with over 1,100 locations nationally. The building was originally constructed as a build-to-suit for Regus. Dulles Creek is the first acquisition for the Pinkard Fund II, the second commingled discretionary fund sponsored by The Pinkard Group.

“This acquisition continues our ongoing investment thesis of acquiring high quality office assets which will be the first to reap the benefits of today’s improving leasing market” stated Bob Pinkard, Principal and Founder of The Pinkard Group. “The combination of the property’s solid in-place cashflow and the value-add potential of the near-term vacancy on the top floor will provide outsized risk-adjusted returns to our investors.”

“The Pinkard Group is excited to kick off Pinkard Fund II with the acquisition of Dulles Creek” added Peter Kleeblatt, Principal with The Pinkard Group. “This is our fourth office acquisition in Northern Virginia, and we are big believers in this dynamic market going forward.”

About The Pinkard Group

The Pinkard Group is a real estate company that invests opportunistically across the spectrum of property types in the Washington, DC metropolitan area. The firm serves as a trusted local partner for national real estate investors offering a platform noted for deep market knowledge, extensive relationships and a thorough understanding of real estate at the property level. The Pinkard Group is currently investing on behalf of its Pinkard Fund II, a commingled discretionary real estate fund focused on investment opportunities in the greater Washington DC area.

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