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EDGE Commercial Real Estate Clients Negotiate Off-Market Flex Sale in Sterling

Tysons Corner, Va. – EDGE Commercial Real Estate is proud to announce the sale of 21300 Ridgetop Circle in Sterling, VA, a 63,237 square-foot flex property, to Red Phoenix 818 Properties LLC.  Both the buyer and seller, Polinger Development Co., were represented by EDGE in this off-market transaction.  The building will be occupied by Defense Technology Equipment (DTE), a rapidly-expanding military procurement, stocking distributor and logistics company, that had been working with EDGE to find space for its new corporate headquarters.  Polinger had owned the building since 1993 and engaged EDGE in late 2013 to help lease a portion of the property that had been vacant since 2008.

“Josh (Katz) reached out to us about the vacant space in February, knowing what a good fit it would be for DTE.  We had no idea we would end up buying the entire building. Finding this opportunity marks the end of a long search for us and will serve as a foundation for great things to come for DTE,” said Maria Badillo-Benzaria, Principal at Red Phoenix and DTE.  “We appreciate the dedication shown by the EDGE team, and by the people at Polinger to help get this deal done against a very aggressive deadline.”

DTE is currently based in approximately 12,500 square feet at Oakbrook Commerce Center in Sterling.  The company will initially occupy 17,000 square feet of office and warehouse space at the new building, while working with Reston-based M Group Architects and incumbent tenants Saab Defense and Security USA and HD Supply to accommodate its eventual expansion to about 33,000 square feet.

EDGE Vice President, Joshua Katz represented the buyer; EDGE Senior Vice President and Regional Manager Scott Rabin represented the seller.

“I have been working with Franck and Maria Benzaria, the owners of DTE, for several years and just knew that this was a great opportunity for them to satisfy a long-term need,” said Katz. “This deal came about because of the great communication and partnership that defines the culture at EDGE, and our ability to quickly mobilize to deliver results that met the expectations of both parties.  There is no better measurement of success than a happy buyer and seller.”

Posted in Edge CRE