Major Renovations Planned for Herndon Office Building

HERNDON, VA — A firm has purchased an 18,000 square foot commercial office building in Herndon, and big renovations are planned for the half-leased facility.

Galena Capital Partners purchased the building, located at 2579 John Milton Drive, for $1.8 million. It is currently 54 percent leased, according to a statement from NAI KLNB, which brokered the sale.

The building is part of the Fox Mill Shopping Center. The buyer plans "substantial renovations commencing immediately," the statement notes. Improvements include a new lobby, overhauled common areas and restrooms, and a new roof. The parking lot will also be resurfaced, and the facade will be re-painted.

The new owners want to reposition the building to attract medical and professional officer users.

“GCP recognizes the tremendous fundamentals of this asset and intends to invest significant capital resources to unlock that value,” Jack Regler of NAI KLNB said in the statement. “Those fundamentals include a strategically strong location, being adjacent to a high-traffic retail center at the intersection of Reston Parkway and Fox Mill Road. Our research suggests that there exists a continuing demand for small medical and professional office users in the sub-market, and the new owners intend to elevate this building and capture these end-users.”

Image via NAI KLNB