Beckham Gumbin Ventures and The Pinkard Group, in a 50/50 joint venture, have acquired a 3.3-acre parcel of land approved for up to 560,000 square feet of trophy office space in Herndon, Virginia. The site is located within the 1.6 million square foot mixed-use Woodland Park East development in the heart of the Dulles Technology Corridor and close to the under-construction Herndon-Monroe Metro Station.

The site, situated at the northeast corner of Woodland Park, overlooks the Dulles Toll Road and is one of just a handful of large office development sites within walking distance of a Metro station as well as an abundance of retail and food-service amenities.

Beckham Gumbin Ventures and The Pinkard Group plan to enhance the existing site plan, improve the design of the proposed buildings, and position the site to attract corporate tenants looking for large blocks of trophy office space with direct visibility from the Dulles Toll Road and access to Metro.

Both Beckham Gumbin Ventures and The Pinkard Group have been very active in the region over the last few years. This will be the eighth investment for Beckham Gumbin Ventures over the past 24 months in the greater Washington, DC area and The Pinkard Group’s seventh acquisition in Northern Virginia since 2014.

“The Reston-Herndon market has seen a tremendous amount of leasing velocity over the past few years, primarily from larger tenants looking for high-quality office space in walkable, amenity-rich environments,” stated Fred Underwood, Principal with The Pinkard Group. “As the availability of this type of space becomes more scarce, we should see fresh demand for new office buildings and shovel-ready sites with superior visibility, existing amenities and proximity to Metro will be first to capture this rising demand.”

“The Dulles Technology Corridor is fast becoming a hotbed for technology workers,” added Neal Gumbin of Beckham Gumbin Ventures. “These workers have a live, work, play mentality and the Woodland Park area possesses all of these attributes, making it a highly sought-after office destination.”

About The Pinkard Group

The Pinkard Group is a real estate company that invests opportunistically across the spectrum of property types in the Washington, DC metropolitan area. The firm serves as a trusted local partner for national real estate investors offering a platform noted for deep market knowledge, extensive relationships and a thorough understanding of real estate at the property level.

About Beckham Gumbin Ventures

Beckham Gumbin Ventures, LLC is a commercial real estate investment and development company that pursues value added and opportunistic real estate investments primarily in the greater Washington DC and Phoenix AZ metropolitan areas.