The office building at 13900 Lincoln Park in Herndon (Courtesy of Friedman Capital)
The D.C. investor who bought the Watergate Office Building and is bidding on the Trump International Hotel has just acquired an office building in the Northern Virginia suburbs.
The D.C. investor who bought the Watergate Office Building and is bidding on the Trump International Hotel has just acquired an office building in the Northern Virginia suburbs. Friedman Capital's Brian Friedman announced Tuesday he bought the office building at 13900 Lincoln Park in Herndon for $50M from Goldman Sachs and Lincoln Property Group.
The 202K SF building, constructed in 1999, is near the intersection of Route 28 and McLearen Road, directly to the east of Dulles International Airport. The building sits on an 11-acre site with a large surface parking lot. It is next to a data center development site that Amazon acquired last year.
"I love that it sits on 11 acres of land next to Amazon, so at some point that land should have value either as data center or residential or just land," Friedman tells Bisnow.
The office building is 100% leased to tenants including CoxCom and Raytheon. Friedman plans to keep Lincoln Property Group on as the property manager for the building.
"The building is really special, it has super high ceilings and is in great shape and unbelievable quality," Friedman said.
The acquisition comes less than five months after Friedman acquired the Watergate Office building for $101.5M.
Friedman has said he is bidding to acquire the Trump International Hotel on Pennsylvania Avenue. He is also managing partner of Foxhall Partners, which owns multiple hotels, including a stake in the Line Hotel in Adams Morgan. Friedman said he has not heard from the Trump Organization or its JLL representatives in the weeks since he submitted his bid. He also said he has not heard from any other bidders about potentially teaming up.
"I don't think our bid was well-received, because we haven't heard anything," Friedman said. "It feels like somebody's going to buy it. It's really special."
“Newmark Knight Frank’s Executive Managing Directors James Cassidy and Jud Ryan and Vice President Grant Marley facilitated the sale. This is the second property that Friedman Capital has acquired in the Washington, DC metropolitan area in the last six months, with Ryan and Cassidy of NKF representing the seller on both acquisitions.”
