DSC Partners acquires $167m office, industrial property portfolio

DSC Partners, a real estate investment company focused on acquiring value-add properties throughout the mid-Atlantic region, has acquired a portfolio in the Norfolk, Va., market.

The portfolio consists of a combination of 15 single-story office, flex and industrial properties. The 1.64 million-square-foot portfolio was previously owned by First Potomac Realty Trust (FPO), which DSC founders and partners Douglas Donatelli and Nick Smith founded in 1997 and ran until 2015.

The majority of the portfolio is located in the Greenbrier/Crossway submarket, where market vacancy rates range from 4.7 percent to 6.9 percent.  The overall portfolio has averaged 91 percent occupancy over the last 10 years and 93 percent occupancy the last five years.

Tenants across the 15 buildings include the U.S. government, Sentara Healthcare, General Dynamics, First Data Corporation, Leidos, Siemens, and Citigroup.

DSC Partners has retained Transwestern to provide property management services, and the team led by Perry Frazer and Pat Mugler of CB Richard Ellis of Virginia Inc. will be leasing the properties.