Commonwealth Tower occupies a nearly two-acre parcel at 1300 Wilson Blvd., just a bridge away from Washington, DC. The 15-story structure, which was built in 1971, features 11,000 sf of ground-level retail space, as well as a fitness center and four-level underground parking facility capable of accommodating up to about 500 vehicles. While the property is over three decades old, a recent generous upgrade--designed by Skidmore, Owings & Merrill and facilitated by Davis Construction Corp.--has helped the premiere structure maintain its class A status.

"Commonwealth Tower gives us a high-quality asset with long-term value," CarrAmerica Suburban Washington, DC managing director Bob Milkovich says. "The property is 100% occupied, including tenants such as American Chemistry Council and the Mills Corp., in a submarket that has very high barriers to entry." CarrAmerica will handle both management and leasing duties at the property, where space had been offered up for lease at a figure in the low $30 per sf range.