Northridge I, VA
Northridge I is considered a “Class A” asset relative to the Herndon, VA office space submarket. MRP assisted owner TA Associates with the initial underwriting of the acquisition by identifying potential operational efficiencies that have since been realized. Since taking over management in 2012, several common area upgrades have been upgraded including lobby furniture, artwork, carpeting, signage and bathroom renovations. Due to the presence of a highly-educated workforce, easy accessibility to major transportation arteries and Dulles International Airport, and proximity to an abundant retail base, the Herndon office market continues to be one of the most desirable submarkets in Northern Virginia. Looking forward, Herndon stands to benefit from Phase II of the Metro Rail expansion which will include a Silver Line station at Monroe Street.