Greater Washington Office Buildings Change Hands
- Jun 09, 2015
The Greater Washington office market has registered two transactions this month. The properties are located in the Ballston section of Arlington and in downtown Bethesda.
HFF marketed the Bethesda office building on behalf of the seller, AEW Capital Management, L.P., which sold the property on behalf of one of its separate account investors. The Bethesda Office Center was acquired for $63.5 million. HFF did not disclose the name of the buyer. However, the Pittsburgh-based provider of commercial real estate and capital markets service did reveal that it helped the buyer secure a fixed-rate acquisition loan through JP Morgan Chase Bank, National Association.
The Bethesda Office Center is a 174,449-square-foot, Class A office building. It is located at 4520 East-West Highway, at the intersection of East-West Highway and Waverly Street.
The Arlington office building was acquired by Jamestown for an undisclosed price. The property, called Stafford Place II, is located at 4121 Wilson Blvd. It is an 11-story, Class A office building, with 184,548 square feet of space. It was constructed in 1999.
Transwestern represented the seller, Stafford Circle Associates LLC, in the transaction. In a news release, the company announced that Stafford Place II was 98 percent leased at the time of the sale.
Photo credit: Transwestern