RESTON, VA—Boston Properties has reportedly sold its Patriots Park office complex here to an affiliate of South Korea's Hyundai Group for approximately $321 million.
The Patriots Park complex, which totals 705,000 square feet, is home to the Office of the Director of National Intelligence, according to the Washington Business Journal.
The sales deal with the Hyundai Group affiliate was inked after Boston Properties secured a more than 180,000-square-foot lease deal with the Office of the Director of National Intelligence through the General Services Administration.
The deal calculates out to approximately $455 a square foot. Boston Properties revealed it had a buyer for the property in an earnings call in August, but has not to date identified the buyer. See story in the Washington Business Journal.
© 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.