Arlington, VA – March 4, 2013 – FD Stonewater closed a major lease transaction with the General Services Administration (“GSA”) totaling 93,650 square feet at Parkridge Center 2 (10803 Parkridge Blvd.) in Reston, Virginia. The GSA renewed and expanded by an additional 19,000 square feet for a 5- year lease term. FD Stonewater’s Richard Mann and Wes Machowsky brokered the transaction on behalf of building owner, Garrison Investment Group (“Garrison”). GSA, who has been a tenant in the building since 2008, was represented by Mash Braimah of DTZ. The building which was built in 1985 is now back to 100% leased.
Garrison acquired the property as part of a portfolio sale in 2011. Since that time, Garrison and FD Stonewater, in its capacity as Asset Manager, have made numerous investments in the portfolio properties. FD Stonewater Principal and lead asset manager Jeff Toporek stated, “Expanding and renewing GSA in the facility was a key repositioning milestone within the portfolio and provides significant stabilized cash flows going forward. Our significant expertise with GSA transactions allowed us to attain our client’s objectives.” FD Stonewater guided the deal to a successful completion drawing on its vast experience as the nation’s preeminent advisor in transacting deals with the U.S. Government. Collectively, the group has over 50 years of experience in the government sector and has completed leases totaling over 35 million square feet to government agencies.
The Parkridge Center office park sits at the eastern gateway to the Dulles Corridor, and is within close proximity to Dulles International Airport and numerous retail amenities at South Lakes Village Center, Plaza America and Reston Town Center.
About FD Stonewater
FD Stonewater is a boutique real estate service and investment firm based in Arlington, Virginia and with offices in New York and Los Angeles which has a track record of more than $10 billion in investment, advisory, development and acquisitions and over 40 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities.www.fdstonewater.com
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