U.S. asset management firm NGP has acquired Gunston Commerce Center, an industrial and flex business park in Lorton, Fairfax County, Virginia for $142 million.
NGP acquired the property located between the Pentagon and the Marine Corps Base Quantico from U.S. real estate developer I-95 Business Parks Management LLC.
Gunston Commerce Center is leased to a number of tenants anchored by federal government contractors and the General Services Administration.
The business park consists of nine buildings and 600,000 square feet of rentable space. The buildings are adjustable in design, with uses ranging from warehouse and office to research and development and retail.