Westwood Metro Tower Changes Hands in Tysons Corner
- Mar 07, 2016
Washington—MRP Realty and Rockpoint Group LLC have acquired Westwood Metro Tower, a 210,087-square-foot office building in Tysons, Va.
Eastdil Secured represented the un-named seller in the transaction.
“This acquisition continues a successful partnership between MRP and Rockpoint Group, focused on identifying buildings that are well positioned to serve the needs of today’s workforce,” Cristopher White, MRP senior vice president of acquisitions, said in a prepared release. “The partnership plans to activate the property’s extensive outdoor space, as well as add to the building’s existing amenities, which include a fitness center and conference facility. The goal is to position the building to be unique in the Tysons market and to enhance and redefine the tenant experience.”
Located at 8614 Westwood Center Drive, Westwood Metro Tower has a diverse tenant base including Washington Gas Energy Services and architecture firm Davis Carter Scott.
The property is adjacent to the Spring Hill Metro station, and is close by road transportation access and walk-able retail options.
According to JLL’s 2015 Q4 Northern Virginia Office Market Report, Q4 was the third-straight quarter that saw positive net absorption, as many tenants continued to look to increase their overall footprint. In fact, 15 of the 30 largest deals last quarter were expansions.
“There is a definitive uptick in activity among tenants looking at properties in Tysons,” Dean Stiles, JLL senior vice president, said in the report. “Its location, and the ease with which tenants can now migrate in and around Tysons and the metropolitan DC market, makes this market very appealing.”
Cushman Wakefield will represent the MRP Realty/Rockpoint Group partnership in its leasing efforts.
MRP Realty’s combined development assets total more than 16 million square feet, with an additional 8 million under management.