21641 Ridgetop Circle in Sterling, Virginia — Courtesy: Fairbridge Properties
By Joshua Burd
A Skillman-based investment firm has acquired two Class A office buildings outside Washington D.C., the firm announced recently.
Fairbridge Properties said it purchased Ridgetop II and Ridgetop III, which total 151,481 square feet and are located in Sterling, Virginia. Built in 2001 and 2008, respectively, the properties sit about 27 miles west of the national’s capital and are currently 86 percent leased.
Terms were not disclosed.
In a news release, Fairbridge said the buildings are part of the Loudoun County submarket and are six miles from Dulles International Airport. The properties are anchored by tenants including Neustar, Loudoun County and Constellation Software, Inc.
“These buildings are a perfect fit for our growing portfolio,” Dmitry Gordeev, Fairbridge Properties’ founder and managing partner, said in a prepared statement. “Ridgetop II and III are ideally situated in a top-performing submarket with a rapidly growing population and access to a highly educated workforce.”
Housing 192,000 employees in more than 9,500 businesses, the county is home to corporate heavyweights such as Verizon, Raytheon Company, Orbital ATK Inc. and United Airlines are located in Loudoun County, the news release said. Additional major employers in the county include the U.S. Department of Homeland Security, Federal Express, US Airways Express and the public sector.
“This part of the country is an economic powerhouse,” Gordeev said. “We anticipate that Ridgetop II and Ridgetop III will provide us with continued growth, stable income and asset appreciation.”
