Skanska Acquires VA Development Site
The site represents one of the last ground-up development opportunities along the Rosslyn-Ballston Corridor.
ARLINGTON, VA – Skanska has acquired the development site located at 3901 North Fairfax Drive in Arlington, VA. The firm purchased the asset from an investment affiliate of Bernstein Management Corporation.
The site represents one of the last Metro-accessible, ground-up development opportunities along the Rosslyn-Ballston Corridor.
Skanska plans to complete a nine-story, 201,000-square-foot office building on the site, with 184,036 square feet of office space and 10,280 square feet of ground-floor retail.
The free-standing building, designed by CallisonRTKL, will inhabit a full block and will target LEED Gold certification. The property will feature floor-to-ceiling windows on all sides, a state-of-the-art fitness facility, a 1,700-square-foot second floor terrace and a 4,000-square-foot outdoor rooftop terrace.
The transit-oriented site is located within three blocks of both the Virginia-GMU Metro Station and the Ballston-MU Metro Station, and it additionally offers access to I-66 and North Glebe Road.
Skanska continues to invest in developments within the Washington DC region. The firm’s current real estate developments in the area include 2112 Penn, 99M, 1800 Chain Bridge Road and 1700M.
Skanska, headquartered in New York City, is a global development and construction firm. The company, which provides operations in construction, civil infrastructure and the development of self-financed commercial properties, has invested a total of $2.3 billion in commercial and multifamily projects within the US.