BPG buys $41m site.BPG Properties, Ltd. (BPG), the operating affiliate of Berwind Property Group, Ltd., announced today the acquisition of Commonwealth Centre, a 101-acre development site in Chantilly, Fairfax County, Virginia Fairfax County is a county in Northern Virginia, in the United States. As of 2005, the estimated population of the county is 1,041,200;[1] making it by far the most populous jurisdiction in the Commonwealth of Virginia, and larger than seven states. for $41,750,000. The site is located at the intersection of Route 28 and Westfields Boulevard within Westfields International Corporate Center, home of the National Reconnaissance Organization (NRO NRO See not reoffered (NRO). ), Northrop Grumman, Lockheed Martin, SAIC SAIC - http://saic.com. , Boeing, CACI CACI - A company developing and marketing SIMSCRIPT, MODSIM and other simulation software products. Telephone: +1 (619) 457-9681. and TASC TASC The After School Corporation TASC The American Surrogacy Center TASC Treatment Accountability for Safer Communities TASC The Analytic Sciences Corporation TASC Transportation Administrative Service Center TASC Total Administrative Services Corporation . The purchase was made on behalf of BPG Investment Partnership VII, L.R. a fully discretionary fund with total equity commitments of $550 million. "We are excited to acquire Commonwealth Centre, one of the largest undeveloped contiguous parcels of land in Westfields Corporate Center," commented Roy Perry, Senior Vice President of BPG, who along with George Haines, directed the acquisition. "The site provides numerous development opportunities including a secured campus that can meet all setback requirements well in excess of BRAC legislation while still accommodating additional buildings with Route 28 frontage." Commonwealth Centre is master planned for the development of multiple office buildings totaling up to 2.2 million square feet of office space. BPG expects to commence construction on the first 165.000 square foot office building in the first quarter 2006. |
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