ARLINGTON, VA-Carr Properties recently reported it is purchasing or developing about 850,000 square feet of office space along Wilson Boulevard here.
The firm, which recently was the beneficiary of a cash infusion of $330 million from Israeli investors, has secured zoning approval for a 180,000-square-foot office building, 2311 Wilson Blvd. The firm plans to propose a building of about the same size at 2038 Wilson Blvd. and in Ballston Carr it is acquiring a nearly 50% stake in two office buildings that were completed in recent years, the Liberty Center plaza, at 875 N. Randolph St. and 4075 Wilson Blvd, according to the Washington Post.
Oliver T. Carr III, president and chief executive of Carr Properties, said recently, “We are finding a lot of times that existing buildings in places where we want to be are much more expensive, which is why we've been choosing to do development.” See story in the Washington Post.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.