Klein Enterprises announced today that it has acquired 45745 Nokes Boulevard, a 95,000-square-foot office/flex property located in Sterling, Virginia.

Nokes Boulevard was developed in 2001, and is currently 85 percent leased with long-term credit tenants including Innova Hospital, Eagle Bank, Raytheon, and independent medical offices.

The property was developed as part of a 554 acre master planned and mixed used development program known as Dulles Town Center, which comprises over 1,400 residential units, a super-regional mall, and several new retail developments all within 5 miles of Dulles Airport. The submarket contains the second highest concentration of tech workers in the US behind only Silicon Valley, and boasts an extremely tight labor market with an unemployment rate near 2.4% driving demand for well-located, high quality space within the market.

The purchase and price and seller were not disclosed.

“This acquisition furthers our strategy of expanding our geographic footprint and becoming a regional owner, operator and developer of retail, multi-family, office/flex and self-storage real estate properties,” said Daniel Klein, President of Klein Enterprises. “As we continue to grow and diversify, our portfolio reaches from Northern New Jersey to Southern Virginia.”

About Klein Enterprises

Over four generations, Klein Enterprises has grown from a single department store to over 40 assets comprised of over 2.5 million square feet of commercial properties and approximately 2100 Class A multifamily units, all while upholding a tradition of hard work and innovation instilled by the Klein family. Klein Enterprises, based in Baltimore, is actively expanding its portfolio and benefits from decades of expertise in acquisitions, brokerage, leasing, and property and asset management. For more information on Klein Enterprises, visit www.kleinenterprises.com