WASHINGTON, Oct. 9, 2013 /PRNewswire/ -- Transwestern's Institutional Commercial Group today announced it has been named exclusive sales agent for Tysons East Metro Portfolio, located at 1755, 1761, 1764, 1764-A and 1768 Old Meadow Road in Tysons Corner, Va.
The Tysons East Metro Portfolio consists of five contiguous commercial buildings that can be redeveloped into more than 1.75 million FAR (floor area ratio) square feet of residential. Situated on more than 17 acres of land, the portfolio is strategically located within walking distance to the Tysons East Metrorail station and a number of strong amenities, including Tysons I and Tysons II Galleria, Sport & Health, The Capital Grille, Palm Restaurant and multiple parks.
The portfolio is currently 98 percent leased to six major corporate users with an average lease term remaining of more than eight years, providing investors a stable, long-term cash flow and re-development opportunity that can be phased-in to maximize income from the current tenancy. The current NOI exceeds $10 million and the property is being offered free and clear of debt.
Transwestern's Washington, D.C.-based Institutional Commercial Group, led by Executive Managing Director Gerry Trainor, focuses on institutional investment services, providing clients with exceptional service and market knowledge. Other team members include Jim Cardellicchio, Mark Glagola, Bob Filley, Dan Speilman, Wesley Machowsky and Clifton McCrory. Since 2011, the Institutional Commercial Group's transactions have totaled more than $2 billion in aggregate value. The team's success is a direct result of their detailed underwriting and keen understanding of the local, national and international investment communities. For more information on the Institutional Commercial Group, visit www.Transwestern-ICG.net or call Gerry Trainor at 202.775.7091.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.