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Transwestern Buys Four Buildings for $165M

NORTHERN, VA-Transwestern Investment spends an estimated $165 million to acquire four buildings totaling more than 830,000-sf in Arlington and Fairfax Counties. The class A office/retail structures are all less than four years old.

By Barbra Murray | Updated on May 09, 2002

NORTHERN, VA-Transwestern Investment Company, LLC steps up its presence in the northern Virginia region with the recent acquisition of four class A office/retail buildings in Arlington and Fairfax Counties through its institutional investment fund Aslan Realty Partners II. Accounting for an approximate total 836,000-sf all four structures were previously under the ownership of Monument Realty LLC and carry an aggregate assessed value of approximately $165 million.

Located at 2900 South Quincy near I-395 in Arlington, Quincy Tower is just over one year old, with construction having begun in January 2000 and completion having taken place in 2001. Over its eight floors, the mid-rise building offers 233,240 sf of Class A space; 218,000 sf in office space and 15,240 sf in retail space. Monument spent about $21 million to develop the property, which is currently assessed at a value of nearly $37.4 million. The three structures in the 90-acre Presidents Park business compound–Presidents Park I, II and III–are each about 200,000-sf and were completed in 1998, 2000 and 2001, respectively. The first two of the three four-story structures in the Dulles Corridor has an estimated value of $43 million each in 2000. Presidents Park I and II sit on the 13000 block of Sunrise Valley Drive, also known as Horse Pen Road, while the third structure sits at 2525 Network Place.

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