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COPT Defense Properties Acquires Office Building In Chantilly For $40.2 Million
SOLD
$40,200,000
Virginia
See Similar DealsOffice142,000 SF
Sold 10/31/2025
SOLD
COPT Defense Properties Acquires Office Building In Chantilly For $40.2 Million
15050 Conference Center Drive
See Similar DealsOffice142,000 SF
Sold 10/31/2025
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$283
Total Square Footage:142,000 SF
Transaction Type:Sale
COPT Defense Properties has acquired Stonegate I, a Class A office building located at 15050 Conference Center Drive in Chantilly, Virginia. The total sale price for this fully leased property amounted to $40.2 million, encompassing a total area of 142,000 square feet, resulting in a price per square foot of $283.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40,200,000
- Square Footage: 142,000
- Address: 15050 Conference Center Drive
- Market: Chantilly, VA
- Purchase By: Stephen E. Budorick - COPT Defense Properties
This acquisition expands COPT's Westfields portfolio, which now constitutes approximately one-third of the submarket's total 4 million square feet of office space. The property is currently occupied by a top 20 U.S. defense contractor.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,143,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$142,822.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$190,568.51
Annual Debt Service$2,286,822.11
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