RESTON, VA-VeriSign is acquiring an office building here for $118 million that it has been using as its corporate headquarters after it moved its operations to Northern Virginia. Last year it inked a $105.8 million lease at 12061 Bluemont Way—which, at 221,326-square feet, was one of the largest leases signed in the Northern Virginia market. The building is the former Sallie Mae headquarters.
The closing is scheduled for Nov. 15, 2011, according to a filing VeriSign made with the Securities and Exchange Commission. The lease VeriSign signed gives it the first right of refusal to acquire the property from the owner, an LLC.
Peter J. Falco of Rockwood Capital represented the owner, and declined to comment to GlobeSt.com. Cassidy Turley brokered the transaction and was unable to return a call to GlobeSt.com in time for publication.
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Another recent transaction in Reston was the trade of 1881 Campus Commons Dr., which sold for $64.4 million, to Spear Street Capital. Clarion Partners sold the 244,558-square foot, five-story building on behalf of an institutional client, reported to be CalSTRS, or the California State Teachers Retirement Fund.
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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.
