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Cathy Jett is the assistant business editor at The Free Lance-Star, and specializes in covering the area's retail scene.

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Silver Cos. sells office building in Quantico for $40 million

Silver Companies has sold a Class A office building in the Quantico Corporate Center to JMC Holdings LLC for $40 million.

The 135,732-square-foot building at 800 Corporate Dr. is the first office property in Virginia to be acquired by JMC, a private entrepreneurial real estate company primarily focused on value-creation opportunities in and around New York City.

“JMC Holdings has been looking to expand its investment portfolio beyond New York. 800 Corporate Drive provided a well-timed opportunity to capitalize on a dynamic market with tremendous tenant demand for Class-A office space,” said Matt Cassin, founder of JMC Holdings, in a prepared statement.

Built in 2012, the office building houses the Stafford Technology & Research Center, a technology focused initiative lead by George Mason University, University of Mary Washington, University of Maryland University College and Germanna Community College.

“The long-term viability of the companies based at 800 Corporate Drive also appealed to us; two of the largest tenants have consistently ranked as top grossing U.S. defense contractors. Cassin said.

QCCS is situated along Interstate 95 and U.S. Route 1 adjacent to Marine Corps Base Quantico in Stafford County.

JMC Holdings was represented by Kameron Zitelli of Berko & Associates throughout the transaction. The Silver Companies, a real estate owner and investment firm based in Fredericksburg, was represented as seller by David Newman, a vice president at Silver Companies, and by Joe Pfahler of Coldwell Banker Elite.

Permalink: http://news.fredericksburg.com/whatsinstore/2013/05/08/silver-cos-sells-office-building-in-quantico-for-40-million/