CRYSTAL CITY, VA-One and Two Potomac Yard have traded forroughly a quarter of a billion dollars. USAA Real Estate Co.acquired the trophy office project, located at 2733 and 2777 SouthCrystal Dr., from institutional investors advised by J.P. MorganAsset Management.
CBRE’s Bill Prutting, Jr., William E. Kaye, Randall Heilig,Jonathan Hull, Nick Hendy, Tim Hutchens, Tim Lenahan, ErikMcLaughlin and Malcolm Schweiker helped broker the sale of the622,000 square foot complex.
It was an all-cash purchase, one of many cash offers the companyreceived, Prutting tells GlobeSt.com. “The composition of thebidders included domestic and overseas companies.” Pricing, hesays, was very competitive and the seller received an aggregate of$3 billion in offers.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
