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.
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