Washington REIT acquires renovated Arlington Tower for $250m

Washington REIT acquires renovated Arlington Tower for $250m

Published at: 2018-01-09 15:36 | Author: CIJ USA
Washington REIT has signed a $250 million contract to buy the Arlington Tower office building in Arlington, VA. The 398,000 square foot Class A asset underwent a $16m renovation over the past five years to install a new fitness center with lockers, and to update onsite retail amenities, the main lobby and the five-level underground parking. Totaling 19 stories, notable tenants include B. Riley FBR, Raytheon/BBN Technologies, Promontory Interfinancial Network, Pepco, the National Electrical Manufacturers Association, and Graham Holdings Company. Washington REIT is acquiring the asset off-market and expects to close in the first quarter of 2018.

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