Spear Street Capital, a San Francisco-based office owner, has snapped up the two-building Plaza East complex in Chantilly’s Westfields submarket, adding roughly 247,000 square feet to its portfolio. The Class A buildings sit on Park Meadow Drive across from the Field of Commonwealth shopping center and are fully leased to a mix of defense, government and technology tenants, a setup that has become catnip for investors hunting steady suburban office income while urban markets remain uneven.
According to CoStar News, Spear Street picked up Plaza East I at 14295 Park Meadow Drive and Plaza East II at 14291 Park Meadow Drive. The report notes that the buyer acquired the fully leased campus but did not disclose the purchase price, and it lists Newmark brokers as the deal contacts on the transaction.
The Meridian Group’s property page describes Plaza East as a roughly 247,000-square-foot, five-story Class A campus built in 2007 and located in the “cyber intelligence” portion of Westfields, with proximity to federal agencies and walkable retail across the street. The Meridian Group lists both Park Meadow addresses and highlights the asset’s tenant roster and development upside. Put together, those ingredients - long-term leases, location and amenities - help explain why institutional buyers keep circling this kind of product.
Why Westfields Is Hot
Investors have been gravitating to Westfields and nearby Northern Virginia submarkets because defense, cybersecurity and government-related tenants supply a relatively steady stream of leasing demand. Recent filings and acquisition activity from defense-focused landlords such as COPT Defense underscore that the submarket is tightly leased and supply constrained, which supports stable cash flows for owners. COPT and other market reports point to mission-adjacent leasing as a key driver.
What This Means For Buyers
Spear Street’s own portfolio shows a national footprint that already includes multiple Washington-area assets, suggesting the firm is intentionally expanding beyond its Bay Area base. Spear Street Capital lists D.C. properties alongside West Coast holdings, in line with a strategy of buying stabilized, income-producing office buildings. Marketing material for Plaza East II emphasizes tenant amenities and a healthy parking ratio, and LoopNet highlights those same features, signaling the campus is meant to be more workhorse than glamour shot.
For Chantilly and the broader D.C. suburbs, the sale is another data point that properties tied to federal work are holding up even as office-use patterns evolve. Industry coverage and market analysis cite federal contracting, cybersecurity growth and limited new Class A supply as reasons investors keep chasing these suburban pockets of demand. Virginia Monthly and other reports track that trend across the state.
