Transwestern today announces it has been retained by Colony Realty to sell Springfield Industrial Center, located at 7701 Southern Drive in Springfield, Virginia. The fully occupied, 251,178-square-foot warehouse is located just outside the Capital Beltway near the junction of Interstates 495, 95 and 395, commonly known as the “Mixing Bowl.” Executive Managing Director Gerry Trainor and Managing Director Mark Glagola of Transwestern’s Mid-Atlantic Capital Markets Group are the lead listing agents.

“The industrial inventory along the I-395/95 corridor has declined in recent years, as many of these buildings have been redeveloped into multifamily and retail properties,” said Trainor. “This has been in response to the area’s job growth, which has led to a tremendous demand for additional housing and retail outlets. Springfield Industrial Center’s close-in, suburban location positions it well given the dwindling supply of industrial product in an area with increased demand for goods and services.”

Springfield Industrial Center is 100 percent leased to five tenants, including four long-term tenants that have occupied the property for an average exceeding 18 years. This bulk warehouse features 17 dock doors, two drive-in doors and access to the CSX rail line.

During the 12 months ending March 2016, the Washington, D.C., metro economy added 86,600 new jobs, well above the 20-year average of 43,400 jobs. Over the past 10 years, the Springfield/Alexandria corridor has experienced a 1.5 million-square-foot decline in industrial product, or a 7 percent decrease in its inventory, according to Transwestern research.

ABOUT COLONY REALTY PARTNERS

Colony Realty Partners is a privately held real estate investment company that acquires and manages commercial real estate properties on behalf of many of the world's leading institutional investors, including pension funds, public corporations, endowments, sovereign wealth funds, and family trusts.

ABOUT TRANSWESTERN

Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.