Satellite firm purchases Aerojet Rocketdyne building for $5.9 million

Weber Rector Commercial Real Estate Services, Inc. (“WR”) began working with SES Americom (“SES”) in 2017, identifying and leasing a 33,000+ SF expansion facility for the 10th largest satellite firm on Randolph Ridge Lane in Gainesville.

WR’s property management division, WR Management, LLC (“WRM”), continued the relationship providing the property management services for the building and assisted SES with a major overhaul and remodeling of their new facility. The relationship continued as it was apparent by their investment and commitment to remain and grow in Prince William County region, that their expansion here was imminent.

In 2018, WR was engaged by Millennium Construction to list the property at 8050 Piney Branch Lane which they had purchased as it was being vacated by Aerojet Rocketdyne (who had occupied the building for decades). WR worked with the SES Luxembourg firm for 12 months to solidify a long-term lease for the satellite company to expand and consolidate its US operations.

When talks ended with no lease agreement in 2019, a pivot was made focusing on a sale and purchase by the group. WR engaged Prince William County Economic Development Department to aide in the process an provide incentives to bring 200+ new jobs to the area.

The 43,200 SF 2-story office building on 4.96 acres zoned M-1; Heavy Industrial sold on April 30, 2021 for $5.9 million ($136.57/SF).