ARLINGTON, VA—In a Securities and Exchange filing, KBS REIT III reported that it has entered into an agreement to acquire 3003 Washington Blvd. here for $146.8 million. GlobeSt.com reported on the pending sale in October (hat tip to CityBizList's Jay Rickey for spotting the filing).
KBS REIT III is in negotiations with the ground lessor regarding its potential acquisition of the ground lease, it also said in the filing.
As of November, the 211,170-square foot building was approximately 95% leased to 8 tenants with a current weighted-average remaining lease term of 13.4 years.
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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.
