Buchanan Partners, a real estate development firm based in Gaithersburg, Md., has teamed with Miami-based real estate investment firm Elion Partners to acquire a 700,000-square-foot industrial portfolio in suburban Washington for $81.1 million.
The portfolio includes 14 buildings off Route 28 in the Northern Virginia submarkets of Westfields, Chantilly and Dulles. The seller was a joint venture of Ares Capital Corp. and Adler Group.
Buchanan Partners Principal Brian Benninghoff said in a statement that “Class A industrial buildings like these provide many tenants more useful options than traditional office buildings or retail centers, at a better price.”
