BOSTON – Davin Holdings announced the acquisition of The Dulles Design Center, a 107,018-square-foot flex/industrial property in Loudoun County, Virginia, through a joint venture with The Davis Companies.
This closing marks Davin’s first acquisition in the very competitive DC Metro industrial market. Davin is seeking to amass a significant portfolio of industrial properties over the next 12 months in Northern Virginia and the DC area combined.
Davin was founded in late 2020 and is led by Marc Yavinsky and Hank Dudgeon. Mr. Yavinsky is an experienced real estate executive who has been involved in over $5 billion in assets over his career. Mr. Dudgeon is a seasoned entrepreneur, having co-founded Rubicon Global in 2008 and been one of the leading industrial brokers in Northern Virginia prior to that. This acquisition marks the first deal of the newly formed joint venture between Davin and The Davis Companies through its value-add real estate fund, Davis Investment Ventures Fund IV, LP (DIV IV).
“We are very excited to have closed on The Dulles Design Center. It was a true testament to our collaborative effort in making this entry into the highly competitive industrial market in Northern Virginia. It was only through Davin’s deep-rooted relationships in the market combined with the expertise of The Davis Companies that allowed us to acquire this strong-performing asset in such a hotly contested market. We look forward to a long and fruitful relationship with The Davis Companies as we seek to scale a large industrial portfolio over the near term,” said Marc Yavinsky, Principal of Davin Holdings.
“The purchase of The Dulles Design Center presented a compelling opportunity for both The Davis Companies and Davin Holdings to further our portfolios in a high-growth market,” said Quentin Reynolds, Chief Investment Officer of The Davis Companies. “There is a strong demand right now in the industry for high-quality flex/industrial properties and we plan on pursuing future investment opportunities in the area alongside Davin.”
Built in 1991, The Dulles Design Center is an existing flex/industrial building that is currently 95 percent leased and is directly adjacent to Route 28, the primary north-south corridor in eastern Loudoun County. The building’s location along the Route 28 North Corridor provides it with numerous benefits, including its close proximity to Dulles International Airport, while also being located in an area that continues to experience exponential growth backed by a highly educated workforce (Loudoun County has been ranked first in the nation for job growth by the US Department of Labor).