ALEXANDRIA, VA-In a deal valued at $37.5 million, Park Center I has found a new owner in White Plains, NY-based Stonewater Partners.

Located at 3101 Park Ctr. Dr., the fully leased, 219,000-sf office building is home to the US Department of Agriculture’s Food and Nutrition Services Department and the Department of Defense’s Army Audit Division. A 14-story structure, Park Center I was developed in 1982 and also features a five-story structured parking facility.

For the boutique real estate firm, the acquisition expands the company’s portfolio to include its first multi-tenanted property. “The Washington, DC area is a strategic market for us, considering it’s the best performing market in the country,” Stonewater principal Jeffrey Toporek tells “The property profile of Park Center I fits within our business strategy of acquiring opportunistic single-tenant and multi-tenant proprieties.”

Andy Stape, Bob Filley, Joe Friedman and Wes Scott of the Transwestern Commercial Services’ Asset Investment Sales Group and Robert Osinoff and Eugene Smith of Transwestern’s Government Services Group listed the property and represented seller Stone Tract Associates in the deal; Stonewater represented itself.

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