Centerstone at Tysons
TYSONS—A new 150,000 square foot lease with an undisclosedcompany has capped off Rubenstein Partners and Griffith Properties'lease up program for their jointly-owned building, Centerstone atTysons. The single transaction brought the newly-renovated buildingto full occupancy.
Rubenstein and Griffith acquired Centerstone at Tysons, locatedat 1550 Westbranch Dr., in July 2015 in an off-market deal. At thetime of the sale of the six-story building, the property wasfully-leased to The MITRE Corp., which was expected to relocate.Once it did, the owners launched a capital improvement program onthe building. “At the outset of this investment we quickly reacheda consensus with Rubenstein that a strategic capital improvementprogram would result in the best outcome for Centerstone, saysMarci Griffith Loeber, managing principal of Griffith in a preparedstatement.
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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.
