Monday, December 05, 2011
New Boston Completes Build-To-Suit for Rockwell Collins at Transdulles Centre
Named Best Building, Non-Institutional Facility, at the Best of NAIOP Northern Virginia Awards
Arlington, Va. - December 5, 2011 - New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that it has completed a 178,234-square-foot, build-to-suit office and manufacturing facility for Rockwell Collins at TransDulles Centre in Sterling, Va. Rockwell Collins, a worldwide leader in communication and aviation electronics solutions, will consolidate several of its facilities in the region to allow the new building at 22640 Davis Drive to serve as their regional headquarters.
The building, with 47 percent office and 53 percent manufacturing space, was designed by architect Morgan Gick McBeath & Associates. The manufacturing space will house the assembly and design facilities of its flight simulators. The build-to-suit also includes a fully-equipped fitness center and employee lounge.
The Rockwell Collins building was recently honored with an Award of Merit and named, Best Building, Non-Institutional Facility, at the Best of NAIOP Northern Virginia Awards on November 17. Additional team members honored at the Awards Dinner included Vantage Construction Corporation, Lincoln Property Company and Morgan Gick McBeath & Associates.
New Boston originally purchased this property at TransDulles Centre with the intention of utilizing the vacant parcel to develop customized space for future tenants, said Patrick Shooltz, Senior Vice President and Regional Director, for New Boston Fund's Mid-Atlantic region. We are delighted to have seen our vision come to fruition with the construction of Rockwell Collins' new state-of-the-art regional headquarters and look forward to continuing our work with them as their property manager.
Rockwell Collins signed a long-term lease with New Boston on the property. The tenant was represented in this transaction by Brian Coakley of Donohoe Real Estate and New Boston was represented by Neil Alt of Lincoln Property Company.
TransDulles Centre was purchased by New Boston Fund VII in August 2007, and consisted of twin Class-A, three-story office buildings totaling 149,000 square feet, 558 surface parking spaces and 18 acres of adjacent land fully zoned for office/warehouse development. The build-to-suit for Rockwell Collins encompasses 12.6 of the 18 acres that New Boston owns, allowing for additional expansion of the property in the future. TransDulles Centre is located five minutes north of Dulles International Airport in the Route 28 North submarket, and approximately half a mile from the interchange at VA Route 28, the major north/south highway in the region. Additional tenants at TransDulles Centre include Bohler Engineering, Sand Canyon Corp. and Huthwaite, Inc.
New Boston Fund does not disclose rental terms or rates.
About New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.4 billion, including 23 million square feet of commercial real estate and 7,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value-add and urban real estate investment funds with a focus on diversification and capital preservation. The New Boston Fund: People, Values, Returns.
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