ALEXANDRIA, VA—A source tells GlobeSt.com that TishmanSpeyer has found a buyer for Canal Centerhere. Herndon, VA-based American RE Partners issaid to be acquiring the 538,799-square foot office complex for$180 million. Tishman Speyer declined to commentwhen GlobeSt.com reached out to its spokesman.

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Tishman Speyer put the four-building complex on the market inMay, tapping Cassidy Turley as the broker. Thecomplex has its appeal, located in the Old Town Alexandriasubmarket—an area undergoing significant revitalization in largepart due to the National Science Foundation's announced last yearit would take 660,848 square feet in the market by 2017.

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Since then, interest by companies either connected to thegovernment agency or hoping to capitalize on the renewed energy in Carlyle have been makinginquiries and investments in the submarket, according to StephanieLandrum, EVP and COO of the Alexandria Economic DevelopmentPartnership.

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Recent examples of activity include Department of Defense's renewal of 606,575 square feetat Hoffman Tower II, an office building owned by the Hoffman Co. inHoffman Town Center and Akridge's purchase of 2800 Eisenhower Ave.

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This building will be the last of Tishman's holdings here,according to the Washington Business Journal.

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