TYSONS, VA—One of the last deals to be signed in 2015 wasPentagon Federal Credit Union's acquisition ofTysons Overlook at 7940 Jones BranchDr., and an adjacent development site, for a total of $164million, according to CBRE's wrap of the fourthquarter in the DC area and 2015 synopsis.
The deal contributed to the positive leasing absorption inNorthern Virginia because this is an expansion play for PenFed,CBRE explained.
That is because PenFed is maintaining its existing presence inAlexandria, Va., and will use close to half, or 47% of TysonsOverlook, as its new corporate headquarters. The sellers wereMRP Realty and LMI, a government-consulting firm,which occupies the first six floors of the property.
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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.
