Innovatus Capital Acquires Dulles Executive Plaza In Herndon for $114 Million

Innovatus Capital Partners has purchased Dulles Executive Plaza, a two-building, Class A office complex in Herndon, Virginia from a joint venture in Lionstone Investments for $113.5 million and the funds proposed by Columbia Real Estate Management.

Located at 13530 and 13560 Dulles Technology Drive in Herndon’s Innovation Center, the 384,336 Sq Ft Dulles Executive Plaza highlights such facilities as a conference center, fitness facility, and tenant lounge as the estate underwent a $4.7 million renovation in 2019.

JLL drew the seller in the transaction and secured purchase funding for the buyer, and stated that solid institutional interest in the offering and the Northern Virginia market extends to resonate with investors as things flow back to a mainly in-person office environment.

At the time of the sale, the property kept 94 % leased to government contractors, including Lockheed Martin and Constellis

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