Newmark Arranges $132 Million Sale of Featherstone Industrial Portfolio in Northern Virginia
Newmark has arranged the $132 million sale of the Featherstone Industrial Portfolio, a 13-building, 734,606-square-foot industrial complex located in Woodbridge, Virginia, approximately 23 miles south of Washington, D.C., the firm announced July 20, 2026.
The portfolio was 100% occupied at the time of sale, leased to 45 tenants across a diverse range of industries. At an implied price of approximately $179 per square foot, the transaction reflects institutional appetite for stabilized, multi-tenant industrial assets in the Washington metropolitan area.
Deal Team and Transaction Details
Newmark Senior Managing Director Ben McCarty, Executive Managing Directors Cris Abramson and Will Bradley, Vice Chairman Dustin Volz, and Managing Director Nicholas Signor represented the seller in the transaction. The buyer was not disclosed.
The 13 buildings are situated within the I-95 Corridor of Northern Virginia, less than three miles from Interstate 95 and approximately 25 miles from the Pentagon and Reagan National Airport. More than 8 million people reside within a 90-minute drive of the properties, according to Newmark.
"The Featherstone Industrial Portfolio presented a rare opportunity to acquire meaningful scale in one of the most sought-after industrial markets in the country," McCarty said. "With over 734,000 square feet across 13 buildings, a highly diversified tenant roster and significant mark-to-market potential, the portfolio attracted strong institutional interest from groups seeking exposure to Northern Virginia's diminishing supply industrial sector."
Market Conditions
According to Newmark Research, Washington-area industrial asking rents have increased more than 50% since 2020 and reached a record $16.11 per square foot in the first quarter of 2026. The firm also notes that data center development has become an increasingly significant competitor for industrially zoned land in the region, limiting new industrial supply and supporting demand for existing, income-producing assets.
The portfolio's average in-place rents were described by Newmark as creating an opportunity for future income growth through lease rollovers and mark-to-market adjustments.
Upside Potential and Zoning Considerations
Newmark cited additional value-creation opportunities tied to the portfolio's zoning profile. The assets offer potential industrial outdoor storage, or IOS, uses as well as possible redevelopment opportunities, supported by favorable zoning and limited availability of comparable sites throughout the Northern Virginia region.
Newmark Group, Inc. (Nasdaq: NMRK) reported revenues of more than $3.4 billion for the twelve months ended March 31, 2026, and operates from more than 185 offices with over 9,600 professionals across four continents.