Source: Tishman Speyer Finds Buyer for Canal Center

ALEXANDRIA, VA—A source tells GlobeSt.com that Tishman Speyer has found a buyer for Canal Center here. Herndon, VA-based American RE Partners is said to be acquiring the 538,799-square foot office complex for $180 million. Tishman Speyer declined to comment when GlobeSt.com reached out to its spokesman.

Tishman Speyer put the four-building complex on the market in May, tapping Cassidy Turley as the broker. The complex has its appeal, located in the Old Town Alexandria submarket—an area undergoing significant revitalization in large part due to the National Science Foundation’s announced last year it would take 660,848 square feet in the market by 2017.