X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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 GlobeSt.com. “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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.