Properties
Dulles Creek
Herndon, VA
Dulles Creek
Overview
Dulles Creek is ideally located in Herndon district adjacent to Dulles International Airport in Washington D.C. in one of the most prestigious and well-known business parks in the suburban Washington D.C. market. Originally constructed in 2001 as a build to suit for Regus Business Centers, the four story building has 87,562 sf of rentable office space is 100% occupied and is anchored by Regus Business Centers, which occupies the first 3 floors. The non-Regus space in the building is divided across the 4th floor and is leased to Strategic Business Systems and Curam Software.
Description
The Property is in the Dulles Corner submarket which represents a highly competitive sub-market in the Washington DC area due to its proximity to the Worldgate Center retail destination and Dulles International Airport. Many high-profile credit tenants are making the move into the sub-market, including Northrop Grumman and others. Recognizing the increasing demand for quality office in the metro DC market, Brickman sought to capitalize on increasing market rents with the purchase of a stable cash flowing asset.
Results
The Property continues to perform in line with expectations as demand for office-space in the market continues to increase.