Enverra Buys Northern Virginia Office Campus for $42M
The 260,000-square-foot property in Herndon is 95 percent leased
By Greg Cornfield November 12, 2026 11:35 am
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Enverra Real Estate Partners has acquired a two-building office campus in Northern Virginia in a bet on rising demand from defense and national security tenants.
The investment firm purchased Caywood, a 260,000-square-foot Class A office campus at 13221 and 13241 Woodland Park Drive in Herndon, Va. Representatives did not disclose the value of the deal or the name of the seller, but a source familiar with the deal told Commercial Observer that the campus traded for $41.5 million, or $160 per square foot.
The campus is 95 percent leased, with a weighted average remaining lease term of 5.6 years. The Small Business Administration anchors the property.
“Herndon’s fundamentals are moving in our favor on both sides of the equation,” Tommy Spinosa, managing partner at Enverra, said in a statement. “The defense and national security sector is driving significant demand for office space in the Dulles corridor, while office-to-residential and data center conversions are taking a meaningful share of supply out of the market.”
Herndon’s office submarket contains approximately 8.6 million square feet, while roughly 2.8 million square feet of office space within three miles of Caywood is expected to be redeveloped for residential and data center uses, according to Enverra.
Caywood is along the Dulles Toll Road, between the Metro’s Innovation Center and Herndon Silver Line stations, approximately six minutes from Dulles International Airport. The development features a 100-person conference center, fitness and wellness facilities, and a tenant lounge with coworking space.
Enverra plans additional multimillion-dollar improvements, including replacements of cooling towers, HVAC equipment and building automation systems. The company also intends to introduce a full-service café and an on-site tenant experience program.
Lincoln Property Company will manage the campus, while Tim Summers of Cushman & Wakefield will oversee leasing. Cushman & Wakefield’s Drew Flood represented the seller, and Michael Zelin arranged acquisition financing for Enverra. (The lender and loan amount were not disclosed.)
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
