WASHINGTON, DC—Two properties have traded or are on the verge ofclosing in the area, sources tell us. One pending sale is3001-3003 Washington Blvd. in Arlington,VA, whichKBS Realty is picking up from thePenzance-Invesco JV for $147.5million. We reached out to KBS Realty for comment but havenot heard back.
Another report we have received is that KanAm GrundKapitalanlagegesellschaft is selling 810 7th St.,NW, for $178.7 million to a JV betweentwo foreign buyers. A CBD office, the 262,620-square foot,eight-story 810 7th St. counts such tenants as the Department of Justice andDRI Development. It last traded in 2003 for $75 million.
Two separate sources have told us about the 3003 WashingtonBlvd. trade in Arlington, VA. This is a recently-deliveredoffice-and-retail building that Invesco Real Estate and Penzance partnered to build in2012. It is located one block from the Clarendon Metro Station andanchored byoffice tenant, CNA, which occupies 1750,000 squarefeet. The building became fully leased last year withthe 22,000-square-foot full-floor lease inked by The CommonApplication.
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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.
