Republic Property Trust has agreed to acquire the Dulles Park Technology Center from Cornerstone Real Estate Advisors for approximately $48.3 million. The five-story, Class A office building fronts the Dulles Toll and is located within one city block of the proposed Route 28 Metrorail Station.
States the company in a press release: “Based on a preliminary analysis of existing and comprehensive plan zoning densities for the Metrorail Station areas, the company believes that, by combining the land areas of Dulles Park and [its adjacent Campus at Dulles Technology Center] properties, it can secure additional office and mixed-use development on the property. The company intends to pursue increased densities for the site.”
The promise of higher densities in proximity to a Metro station is a powerful combo, even if that promise is still uncertain and years in the future.
