The seller, Lowe Enterprises Mid-Atlantic, acquired the property in 1999 for $39.75 million. The transaction was the fourth largest commercial real estate sale for the year. Beacon has brought in RREEF Management, Co. as the managing agent, and Trammell Crow Company to handle leasing. "Lowe Mid-Atlantic had owned the building, managed it, and leased it themselves," Trammell Crow's Joseph Stettinius tells GlobeSt.com. "Beacon contracted us to lease the property after is made the purchase."
Eight stories high with an underground level parking lot to accommodate 115 vehicles, the building was originally constructed in 1984. There is an eight-level interior atrium accented by a waterfall that flows from the first floor to the concourse level. Among the building tenants are Lockheed Information Management Services Co., Inc. Intelligent Transportation Highway Society of America, and a US Housing and Urban Development office.
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