FCP Announces Sale Of One Dulles For $226.0 Million

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Mar 01, 2018, 08:30 ET

CHEVY CHASE, Md., March 1, 2018 /PRNewswire/ -- FCP^(SM) announces the sale of One Dulles Tower to affiliates of Harbor Group International, LLC for $226.0 million. FCP purchased the 403,622 square foot Class A office building prominently located on the Dulles Toll Road in Herndon, VA in October 2015 and completed an extensive renovation following the planned move out of the prior single tenant occupant. In early 2017, FCP signed a lease for a full-building tenant.

FCP on March 1, 2018 announce the sale of One Dulles Tower to affiliates of Harbor Group International, LLC for $226.0 million.

FCP Sr. Vice President, Erik Weinberg, said, "FCP is thrilled with the exceptional results of the repositioning of this trophy Dulles Corridor tower." He continued, "One Dulles is an excellent example of the type of commercial office property in which we like to invest and, with fund capital available to us, we will continue to seek opportunities like this one in the Dulles Corridor and other strong submarkets throughout the Washington, DC region and the East Coast."

One Dulles Tower is located within the upscale Woodland Park master planned development, with extraordinary 360-degree views, convenient access to more than 140,000 square feet of retail, a hotel and 5-acre park and is one half mile from both the future Herndon and Innovation Center Silver Line Metro Stations.

FCP extends its appreciation to Bill Collins, Paul Collins, Drew Flood, Eric Berkman, and Shaun Weinberg of Cushman & Wakefield for their representation of FCP in the sale of the building.

About FCP
FCP^(SM) is a privately held real estate investment company that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.

About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.