Turnbridge closed the acquisition of this 205,000 SF office building located in Herndon, VA, in September 2018. At acquisition, the property was 90% leased to Boeing and 10% leased to Peraton, another leading defense contractor, and Boeing had been in occupancy for more than 20 years with significant investment into its space. The property is located within one-half mile of the new Silver Line Metro station, slated to open in 2020, and is less than two miles to Reston Town Center. Moreover, the property is in the heart of both the Dulles Toll Road technology corridor and major government and defense installations, making the property extremely strategic to existing and perspective tenants. These factors led Turnbridge to discount the tenant concentration risk of the investment, which Turnbridge believed led to the property being undervalued by the market.
460 Herndon Parkway