The complex, which consists of two 13-story towers at 1411 and 1421 Jefferson Davis Hwy., is 550,000 square feet. It is nearly 90% occupied. Called Jefferson Plaza, Los Angeles-based Lowe Enterprises acquired the property on behalf of an investment client in early 2008 from Equity Group Investments LLC.

The buildings are connected at ground level with a glass-enclosed atrium. Their main entrances sit on Crystal City's major thoroughfare, Crystal Drive. Other features include 21,000-square-foot floor-plates and a three-level below-grade parking structure that both buildings share. Charles Dilks, Keith Lavey and Kurt Stout of the Grubb & Ellis' government services group represented Los Angeles-based Lowe Enterprises.

This deal is an ironic one for Crystal City, which had projected that some 76.8% of its office space would be impacted by the 2005 Defense Base Closure and Realignment, or BRAC. Essentially, BRAC required the relocation of much of the government presence in this submarket from this submarket--including the National Guard Bureau. A five-year extension, of course, is welcome indeed to both building owner and the submarket.

"This renewal was a classic win-win for both government and ownership," Stout tells GlobeSt.com. "It provides the government with the flexibility it needs to meet the BRAC timeline and provides the ownership the opportunity to meet its investment objectives."