Transwestern Brokers Sale Of 333,077-Square-Foot Trophy Office Building For $175.6 Million
WASHINGTON, March 5, 2013 /PRNewswire/ -- Transwestern's Washington, D.C.-based Institutional Commercial Group today announced it brokered the sale of Arlington Gateway, a 12-story, 333,077-square-foot trophy office building located at 901 N. Glebe Road in Ballston, Va. Piedmont Office Realty Trust purchased the building from Arlington Gateway Investors LLC for $175.6 million.
Arlington Gateway offers a prime location with superior accessibility immediately off Interstate 66 at Fairfax Drive. The LEED® Gold Certified building was 99 percent leased at the time of sale and represents one of the highest quality buildings in the Rosslyn-Ballston Corridor.
"The sale of Arlington Gateway represents a highly successful transaction for both parties," said Transwestern's Gerry Trainor, who represented the seller in the transaction. "We achieved excellent pricing for our client while providing Piedmont the opportunity to execute its expansion plan into the Washington, D.C. region with a trophy asset that has strong cash flow."
Transwestern's Institutional Commercial Group, headed by Gerry Trainor, focuses on institutional investment services throughout the Washington, D.C. region, providing its clients with exceptional service and market knowledge. Other team members include Bob Filley, Jim Cardellicchio, Ken Marks and Paul Korns. Over the past two years, the Institutional Commercial Group's transactions have totaled more than $1.5 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, please visit www.Transwestern-ICG.net or call Gerry Trainor, executive managing director, 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 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. Follow Transwestern's Washington, D.C. office on Twitter: @TranswesternDC.