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Park Center

WASHINGTON, DC–January investment sales have started out on a brisk note, following 2017’s strong record. In many ways January 2018 deals are a continuation of activity from 2017 in that some pending transactions that couldn’t close by year’s end — such as Axa’s purchase of 1401 New York Ave., NW on behalf of a client — are now being finalized. Following is what we have learned or has been announced in the last two weeks.

USAA Real Estate and Lowe have partnered again, this time acquiring the three-building, 556,000-square-foot Park Center office complex in Alexandria., Va.The three adjacent office buildings are located at 4300 King St., 3101 Park Center Dr. and 4401 Ford Ave. Another office trade was 500 East St., SW for $118.6 million, or $478 per square foot. Boyd Watterson purchased it from Boston Properties.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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