The Peterson Cos., JLL collaborating at Northern Virginia Gateway
September 24, 2021
Fairfax-based Peterson Cos. Is building a 1.9 million square foot development in a 270-acre industrial park in Stafford County, and JLL will oversee the rental, the companies said Friday.
Northern Virginia Gateway, expected to be built within a year, is on Centreport Parkway just off of Interstate 95.
“Peterson’s initial foray into the DC metropolitan industrial market results in the largest industrial lease in decades,” John Dettleff, senior general manager and head of JLL’s Metro DC industrial team, said in a statement. “Peterson Cos. is currently in the process of mass grading the entire 270 acres. The site will be pad ready and will be able to deliver buildings ranging from 100,000 to 900,000 square feet in just over 12 months from a signed lease.
“Northern Virginia Gateway provides the three most important elements to an industrial occupant: scale, proximity to the sixth largest MSA in the country, and speed to market,” said Taylor Chess, president of development at Peterson, in a press release. “We have a dedicated team ready to provide customized logistics solutions to Metro DC’s largest industrial occupants. “
Construction of the first 630,000 square foot building is underway.
“We’re currently under construction on a build-to-suit for a Fortune 500 company,” Dettleff added in an email. “We are discussing with several other tenants, but nothing is signed yet.
The entire 270-acre site is being cleared and graded, which will allow Peterson Cos. to deliver buildings in a very short period of time, said Dettleff.
Peterson was the developer of National Harbor in Maryland, but this is his first major industrial project. To date, the company has 16 million square feet of office space that has been developed, owned and / or leased, as well as 390 acres of commercial land in the pipeline.
Dettleff, Dan Coats and Jake Servinsky of JLL will handle the rental at Northern Virginia Gateway.