ARLINGTON, VA-Tishman Speyer closed on 1300 N. 17th St., the 392,000-square-foot office tower it earlier announced it would be acquiring in March from from Beacon Capital Partners. The price was slightly over $200 million, or more than $500 per square foot.
The company, which did not return a call for comment to GlobeSt.com in time for publication, is now planning a capital improvement program for the 19-story building. This includes a lobby renovation, elevator modernization and the construction of a new fitness center.
It is not the only building owner to focus on such improvements. Monday Properties is boosting its local portfolio with such upgrades as new lobbies and a greater focus on retail. There is also new development underway in the Arlington-Rosslyn submarket. Skanska USA broke ground on an office building at 1776 Wilson Blvd. recently and Monday Properties’ $300-million, 35-story tower at 1812 N. Moore St., is expected to deliver in the fall of 2013.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
