MANASSAS, VA - Thursday, June 27: Triten Real Estate Partners, leading national real estate investment, development, and operating firm with a focus on industrial outdoor storage, continues to strengthen its IOS portfolio with the acquisition of 9440-9480 Contractors Ct. The 5.45-usable acre freight facility, which includes an 11,800 square foot warehouse/maintenance facility and office onsite, represents Triten’s first acquisition in Virginia and symbolizes a continuation of the firm’s strengthening position in the competitive Mid-Atlantic markets.
This deal comes on the heels of a significant upsize in Triten’s initial joint venture with global alternative asset management firm TPG Angelo Gordon, which has positioned the firm to acquire more than $1 billion in additional IOS assets over the next five years. Since its inception, the programmatic joint venture has acquired over $500 million of IOS assets across 16 markets, averaging 18 new acquisitions yearly since 2020.
Located in Manassas, Virginia, 9440-9480 Contractors Ct. is strategically positioned near Dulles International Airport, Ronald Reagan Washington National Airport, two major interstate highways in I-95 and I-66, and two tier one rails. This strong connectivity has led to more than 550 supply chain organizations establishing operations in the area.
“Similar to other IOS deals we’ve executed in the region; the layout and cross functionality of 9440-9480 Contractors Ct. provides the unique ability to continue operating as a single tenant site or lease to multiple tenants in the future,” said Danny Coffman, Principal at Triten Real Estate Partners. “The location’s proximity to the greater Washington market and highly educated workforce only adds to the appeal of this deal. The site is in the heart of the Data Center Capital of the World with an influx of development taking place over the past few years. This phenomenon has only added to the demand drivers in this market.”
This deal was spearheaded by Coffman who is tasked with sourcing and analyzing acquisition opportunities in the Mid-Atlantic markets for Triten’s growing IOS team. Most recently, Coffman brought Triten into the Philadelphia market with the acquisition of a 6.85-acre IOS freight facility located in the Kensington submarket. To date, Triten owns and operates six IOS facilities in the Mid-Atlantic totaling more than 55 acres.
For more information on Triten's Industrial Outdoor Storage initiatives and portfolio, visit www.tritenre.com and www.tritenios.com.
https://www.tritenios.com/
