WASHINGTON, DC—Two properties have traded or are on the verge of closing in the area, sources tell us. One pending sale is 3001-3003 Washington Blvd. in Arlington,VA, which KBS Realty is picking up from the Penzance-Invesco JV for $147.5 million. We reached out to KBS Realty for comment but have not heard back.
Another report we have received is that KanAm Grund Kapitalanlagegesellschaft is selling 810 7th St., NW, for $178.7 million to a JV between two foreign buyers. A CBD office, the 262,620-square foot, eight-story 810 7th St. counts such tenants as the Department of Justice and DRI Development. It last traded in 2003 for $75 million.
Two separate sources have told us about the 3003 Washington Blvd. trade in Arlington, VA. This is a recently-delivered office-and-retail building that Invesco Real Estate and Penzance partnered to build in 2012. It is located one block from the Clarendon Metro Station and anchored by office tenant, CNA, which occupies 1750,000 square feet. The building became fully leased last year with the 22,000-square-foot full-floor lease inked by The Common Application.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
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.
