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.
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.
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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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.
