RESTON, VA—The sale of Sunset Corporate Plaza I & II here has closed, local land records reveal. Last month we reported that the two-asset portfolio, which totals 142,394 square feet, was under contract for $22.6 million, or $160 per square foot. Penzance Cos. was the buyer.
The building was put on the market by Piedmont Office REIT last year. It tapped Transwestern to market the 28-year-old, six-floor properties.
Penzance, of course, is the owner of one of the most iconic buildings in the Washington DC area: one of the Watergate office buildings at 2600 Virginia Ave., NW.
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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.
