Flex and office building property located in Chantilly, Va.
Baltimore-based developer Klein Enterprises is pleased to announce the purchase of Chantilly Plaza I - IV – an approximately 150,000-square-foot property located in Chantilly, Va. The addition of Chantilly Plaza brings Klein Enterprises’ total non-retail commercial portfolio to nearly 700,000-square-feet, including a blend of flex, medical and professional office, and mixed-use properties and bringing Klein’s aggregate commercial footprint to approximately 2.5M square feet throughout Maryland and Virginia.
Chantilly Plaza, a four-building flex property in Fairfax County has a mix of business, engineering and government contractor tenants, including DaVita Kidney Care, Dulles GeoTech, United Bank and others. The properties are 76% leased with available spaces ranging from 1900-square feet to 10,000 square-feet, and was purchased as part of Klein Enterprise’s strategy to upgrade its legacy commercial portfolio often through tax deferred 1031 exchanges
The property is located minutes away from Dulles International Airport at the intersection of Routes 28 and 50 in Chantilly, Va. and less than one mile to the Central Intelligence Agency (CIA) and National Reconnaissance Office (NRO).
“We were drawn to the asset by its proximity to a thriving aerospace, defense, and technology focused employment base, and continue to believe that the increasing appeal of well-located small bay flex as a lower cost alternative to retail and traditional office presents a significant upside opportunity,” said Daniel Klein, president of Klein Enterprises.
This acquisition increases Klein Enterprises’ Virginia property portfolio to seven, all of which were purchased or developed in the last few years; including Pleasant Valley Marketplace, located at 2021-2065 S. Pleasant Valley Rd.; Stafford Corner, located at 90 and 100 Prosperity Lane, in Va.; 1500 Westbranch in Tysons Corner, Va.; Market at Opitz Crossing at 2141 Opitz Boulevard in Woodbridge, Va.; and, most recently, Courthouse Shops and Cloverhill Shops in Richmond, Va.
Transwestern Commercial services brokered the sale of Chantilly Plaza to Klein Enterprises on behalf of Veslor Properties.
About Klein Enterprises
Over four generations, Klein Enterprises has grown from a single department store to over 35 properties comprised of over 2.5 million square feet of commercial properties and approximately 1800 Class A multifamily units, all while upholding a tradition of hard work and innovation instilled by the Klein family. Klein Enterprises, based in Baltimore, has decades of experience and success in development, acquisitions, brokerage, leasing, property and asset management. For more information on Klein Enterprises, visit www.kleinenterprises.com.
