DTZ Hits One Out of the Arlington Office Park
- Jul 17, 2015
The Greater Washington office market has hit another home run: the sale of a large Arlington building for an even larger sum.
DTZ announced the sale of the Rosslyn Metro Center this week. Rosslyn Center Associates L.P. sold the 22-story office tower to American Real Estate Partners for $180 million. DTZ Vice Chairmen Bill Collins and Paul Collins, and Executive Managing Directors Jud Ryan, James Cassidy and Drew Flood represented the seller in the transaction.
The large Arlington building is located at 1700 N. Moore St., right in the heart of Rosslyn. It is connected to the metro station via a retail pavilion, and also offers convenient access to the Orange, Blue and Silver lines. The property was constructed in 1980 and has gone through several renovation projects over the years, including exterior upgrades, improved restrooms and renovated parking-level elevator lobbies. According to DTZ, the 409,148-square-foot office building was 89 percent occupied at the time of the sale.
“This is truly an incredible opportunity to reposition one of the best located water view projects in the region,” Bill Collins said in a prepared statement. “Rosslyn is quickly maturing into a world-class city linked directly to Washington. This is what people are looking for: an urban environment that has retail, residential and office, coupled with mass transit.”