Westbrook Buys DC-Area Office for $72M
- Nov 09, 2017
An entity controlled by Westbrook Partners acquired Two Liberty Center, a nine-story office building in Arlington, Va. The Class A asset was sold for $72 million, free and clear of any debt, by an entity controlled by the Fred Schnider Investment Group.
The building was constructed in 2007 and is part of the 2.2 million-square-foot Liberty Center mixed-use development. Located at 4075 Wilson Blvd., in Washington D.C.’s Ballston neighborhood, the asset features nine-foot ceilings, four sides of window line, a rooftop terrace and 20,000 square feet of flexible floorplates. It is LEED Silver certified.
Two Liberty Center has 178,700 square feet of total office space, leased to multiple tenants including Raytheon, Strategic Analysis and TechSpace. Besides the ground floor retail and restaurant spaces, the location offers other options as well, such as a Greek restaurant just across the street. The Ballston-MU Metro Station is located just two blocks away, with Interstate 66 and Route 50 offering good car access within the D.C. metro area. Multiple hotels are nearby, such as Hilton Arlington, Holiday Inn or The Westin Arlington Gateway. The Ronald Reagan Washington National Airport is only 20 minutes away by car, or 30 minutes via the Orange or Silver metro lines.
Image courtesy of Yardi Matrix