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One Dulles Tower

HERNDON, VA–Harbor Group International has announced its affiliates have acquired One Dulles Tower for $226 million. The 13-story, 403,622 square foot asset is fully leased.

One Dulles Tower has gone through quite a metamorphosis in the last few years. Federal Capital Partners acquired  it in late 2015 for $84 million. Corporate Office Property Trust was the seller in that transaction, having acquired it in 2003 for $71 million. The REIT had been trying to re-tenant it but was having difficulties, most likely because of the strict security procedures to access the building — the property had been fully leased to Booz Allen Hamilton but the security consultant vacated it in a planned move around the time of the purchase. The purchase was a significant one for FCP — it was its largest office deal 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.

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