WASHINGTON, DC—Washington REIT has announced it has reached 93% occupancy at The Maxwell, a luxury 163-unit multifamily development in Arlington, VA, where on-site leasing began at the start of the year.
With that announcement, the REIT says it has met its three main leasing goals this year: to stabilize The Maxwell, 1775 Eye St., NW, in the District, and Silverline Center in Tysons, VA.
Last week Washington REIT announced that 1775 Eye St., NW is now 98% leased, up from 62% when it acquired it in 2014. Following the purchase, the REIT did some renovations and upgrades and began its lease up campaign for the eleven-story office building.
Over in Tysons, Washington REIT's Silverline Center has also reached 93% occupancy since its renovation delivered in the second quarter of 2015. Some 261,000-square feet of new leases have signed on over the past few months, a large portion of which -- 137,000 square feet -- is going to Capital One.
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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.
