The Pinkard Group has bought an 11-story building near the planned Innovation Center Metro station in Herndon as it seeks to expand its footprint in Greater Washington.
Pinkard teamed up with Principal Real Estate Investors to acquire Dulles Metro Center from Deka Immobilien Investment GMBH, a German investment fund that has been seeking buyers for the 219,000-square-foot building off-market for more than two years. The sale price for 2325 Dulles Corner Blvd. was not disclosed but sources familiar with the deal put it at around $44.2 million, or roughly $202 per square foot. DEKA has owned the building, which is about 75 percent leased, since it acquired it in July 2004 for $55.6 million, according to Fairfax County land records. Savills Studley broker Robert Stamm represented DEKA in the sale.Pinkard Group keeps focus on Northern Virginia with latest acquisition
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