HERNDON, VA–Harbor Group International hasannounced its affiliates have acquired One DullesTower for $226 million. The 13-story, 403,622 square footasset is fully leased.

One Dulles Tower has gone through quite a metamorphosis inthe last few years. Federal Capital Partnersacquired it in late 2015 for $84 million. Corporate OfficeProperty Trust was the seller in that transaction, having acquiredit in 2003 for $71 million. The REIT had been trying to re-tenantit but was having difficulties, most likely because of the strictsecurity procedures to access the building — the property had beenfully leased to Booz Allen Hamilton but the security consultantvacated it in a planned move around the time of the purchase. Thepurchase was a significant one for FCP — it was its largest officedeal in the region at that point in time.

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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.