Matan Companies Purchases 500,000 SF Industrial Park in Alexandria, VA
Washington, DC – February 21, 2017. The Matan Companies announced today that it has purchased Plaza 500, a 502,830 square foot industrial park located at 6295 Edsall Road, in Alexandria, VA. Constructed in 1973 and recently upgraded, the 34-acre property is comprised of industrial, warehouse, flex office space, and storefront retail, as well as fenced storage and ample parking.
Plaza 500 is strategically located at the confluence of the largest highways in the D.C. area, the Capital Beltway, Interstate 395, and Interstate 95. The property is also located within walking distance to the Blue Line’s Van Dorn Metrorail station.
At the time of acquisition the 86-percent-leased park is home to a diverse roster of major tenants including the US Government, Paxton Van Lines, and Stock Building Supply.
“We are excited to grow our Northern Virginia presence through continued investment in Fairfax County,” said Dan Cain, Development Manager for the Matan Companies. “With a prime location in Alexandria, Plaza 500 is an asset that compliments our existing portfolio. This acquisition further strengthens our long-standing investment in the greater Washington, D.C. market, where we now actively own and manage over 6 million square feet.”
“Plaza 500 is a great fit for Matan’s growing industrial portfolio,” added Paul Collins of Cushman & Wakefield, who represented the seller in this transaction. “The infill nature of the property on 34-acres is hard to find inside the beltway. Matan and First Potomac have done business in the past, resulting in a smooth transaction.”