Arlington, VA (PRWEB) February 21, 2014
FD Stonewater announced today it has completed in separate transactions the acquisition of single-tenant properties located at 7321 Parkway Drive South in Hanover, MD and 1365 Technology Court in Dayton, OH. The transactions exemplify FD Stonewater’s strategy of acquiring single-tenant, mission-critical facilities nationwide with near-term lease expirations. The company has acquired in excess of $200 million of these types of assets encompassing more than 2.8 million square feet.
7321 Parkway Drive South, a 52,063-square foot building located in the BWI submarket of Anne Arundel County, is 100% leased to the charter school Chesapeake Science Academy with approximately 5 years remaining on the lease term. The property recently underwent an upgrade of nearly $2 million. Jeff Toporek, a Principal at FD Stonewater, commented, “FD Stonewater has extensive experience in underwriting charter schools and this acquisition exemplified one of the best performing schools we have identified. The school has demonstrated a significant commitment to the facility and is located in a superb office park near the BWI airport.”
1365 Technology Court is a 125,000-square foot office, R&D and light manufacturing facility leased to Alliant TechSystems, Inc. (ATK). The lease term has approximately 5 years remaining and ATK has the ability to expand its presence by 30,000 square feet. David Stade, a principal at FD Stonewater said, “Complicated deals such as this, with higher levels of binary termination risk, are always difficult to complete, but we tend to specialize in them and have built a solid track record doing it.”
About FD Stonewater
FD Stonewater is a boutique real estate service and investment firm based in Arlington, Virginia, with offices in New York and Los Angeles with a track record of more than $10 billion in investment, advisory, development and acquisitions and over 40 million square feet of lease transactions. FD Stonewater offers a fully-integrated, national real estate platform with capabilities in Principal Investment, Development, Asset Management and Brokerage activities.
For further information: