ARLINGTON, VA – Monday Properties and neo capital have acquired the 233,446-square-foot office building, Shirlington Tower in Arlington, VA, in a joint-venture transaction.
Located in Shirlington Town Center, the property is situated less than two miles from National Landing and the Rosslyn-Ballston Corridor.
The tower is currently 97% leased to various tenants, including the US Navy, HNTB Corp., the National Alcohol Beverage Control Assoc. and Halfaker & Associates.
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The building features a 12,000-square-foot fitness center and an outdoor courtyard, as well as numerous retail stores and restaurants.
"Shirlington Tower marks the second acquisition Monday Properties made in the Shirlington submarket within the last two years, and we are pleased to have partnered with neo capital," states Tim Helmig, managing partner at Monday Properties. "We remain bullish on forward-looking regional market fundamentals and intend to continue our momentum as active buyers in the marketplace."
"The DC region has again demonstrated its resiliency to economic downturns," states Wes Machowsky, SVP of acquisitions and capital transactions at Monday Properties. "Despite the turbulent market conditions brought on by COVID-19, the area remains attractive to businesses, investors and residents. The acquisition of Shirlington Tower is the result of a collaborative effort by all parties involved, and we are well-positioned to continue to strategically grow our portfolio in spite of the pandemic-related headwinds confronting the capital markets."
A neo capital representative adds, "Our acquisition of Shirlington Tower is an important part of our strategic portfolio growth in the US. This is exactly the type of asset and market neo capital is looking to invest in—exceptional job growth, great regional connectivity, and best-in-class tenants. We see a lot of value in the DC region and will look to invest further here and in other strong performing US cities."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
