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Paxton Van Lines Inc. will more than double its Fairfax County, Va., warehouse space in a move from Chantilly to Alexandria, in a deal represented by Newmark Grubb Knight Frank Executive Managing Director Larry FitzGerald. To date, the transaction is the largest industrial lease signed in Northern Virginia in 2013.
Paxton, now at 3900 Stonecraft Blvd. in Chantilly, Va., where it occupies 48,863 square feet, is moving to Alexandria, at 6925 Edsall Rd, where it signed a lease for 107,313 square feet. While Mr. FitzGerald represented Paxton, the landlord, First Potomac Realty Trust, was represented by CBRE in the transaction.
“Paxton wished to relocate its operations closer to its customer base and increase the size of its facility,” Mr. FitzGerald observed. “This new location better serves its strategic-solutions needs, with greater access to transportation routes.”
“Paxton is excited to relocate and expand our warehousing, logistics and project management capabilities within the Beltway. Focusing on the needs of our commercial, hospitality and development customers, Paxton is committed to delivering the highest quality logistics and ‘final mile’ solutions whenever and wherever our clients and partners need them,” said Chief Operating Officer Bill Paxton.
Mr. FitzGerald is Paxton Van Lines’ exclusive broker in the Mid-Atlantic region. A division of The Paxton Companies, with more than 60 years of transportation experience, Paxton Van Lines has services geared for all transportation needs - from household goods moves and freight forwarding - to office moves, record storage, and more. The site is one of two facilities serving the metropolitan Washington, D.C. area.
First Potomac Realty Trust is a self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping office, business parks and industrial properties in the greater Washington, D.C. region.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 12,000 professionals, operating from more than 320 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.