NEWS: For immediate release – August 27, 2021
ROSENTHAL PROPERTIES & STOCKBRIDGE ACQUIRE A 735,000 SQUARE FOOT INDUSTRIAL PORTFOLIO IN WOODBRIDGE, VA
Vienna, VA (August 25, 2021) – Rosenthal Properties and Stockbridge have acquired Featherstone Industrial Park on Farm Creek Drive in Woodbridge, VA for $104.2 million.
The Featherstone portfolio, consisting of 14 industrial buildings with 26-foot clear height, is 25 miles south of Washington D.C. with immediate access to the major north/south Interstate-95 and Route-1 corridors.
The portfolio is leased to a variety of tenants in the automotive, consumer products, construction services, and moving and storage industries, in addition to local and Federal government users.
The portfolio’s “heavy industrial” zoning permits the broadest of industrial uses and outdoor storage. The Rosenthal-Stockbridge partnership has the opportunity for additional value-add from under-utilized parcels and land that can be developed into more leasable area.
“Northern Virginia is a supply constrained industrial market with limited investment opportunities,” said Glenn Rosenthal, president of Rosenthal Properties.
“We are fortunate to have capitalized on this off-market opportunity as we continue to grow our industrial portfolio,” Rosenthal said. The Featherstone portfolio will enhance Rosenthal’s already significant industrial holdings in this region.
“Vacancy rates are low, and getting lower, in the industrial space,” Rosenthal said, “making this a strategic play for us and our partner.” Rosenthal noted that the Featherstone portfolio presented a unique opportunity to acquire quality real estate in a prime location for distribution and industrial uses.
About Rosenthal Properties:
Founded in 1999 by Glenn Rosenthal, a 40-year veteran of the real estate business, Rosenthal Properties, with approximately 50 employees, is one of the Washington area’s most reputable, fully integrated commercial real estate firms. Rosenthal Properties offers its clients a full range of services, including property management, leasing and construction management. Rosenthal Properties owns, leases or manages a portfolio of approximately 8 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, DC, both with its own capital and in partnerships with respected institutional investors. For additional information on the full scope of Rosenthal Properties’ services, visit www.rosenthalproperties.com.
Contact: Greg Jacobsen: 703.893.1242
About Stockbridge:
Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises of assets across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliate have approximately $22.5 billion of assets under management (as of June 30, 2021) spanning all major real estate property types and certain specialty property types, throughout the United States. www.stockbridge.com