Two More D.C. Office Properties Change Hands
- Apr 23, 2015
Two more D.C.-area office properties have changed hands this month.
Corporate Office Properties Trust has expanded its portfolio of properties with the acquisition of the 10-story Metro Place II. The Class A office building was acquired for approximately $83 million. According to PropertyShark, Glenborough Realty Trust was the seller. The California-based company paid $71.7 million to buy the asset in 2005.
Metro Place II was constructed in 1999 at 2600 Park Tower Drive in Merrifield. It offers 240,400 square feet of space, and according to COPT, it was fully leased at the time of the sale. Tenants include The Boeing Co., which occupies more than half of the building; ACTIONET; TASC; and HDR Engineering.
Meanwhile, in the District’s downtown, MRP Realty joined forces with UberOffices to buy the property at 1509 16th St., N.W. The purchase price was not disclosed. PropertyShark says the building last changed hands in 2006, for $8.8 million. The real estate website lists its current market value at a little over $9.6 million.
The property was constructed in 1909. It has seven stories and 35,000 square feet of space. UberOffices will be the property’s sole occupant. It plans to move in by early 2016. MRP will provide construction and property management services.
Photo credit: Corporate Office Properties Trust