Trophy Office Pulls in $420 Per SF

ARLINGTON, VA-At a price of $425 per-sf, Dweck Properties has acquired Stafford Place II here. The 175,000-sf trophy building at 4121 Wilson Blvd. brought in $73.5 million.

Relying on the assistance of Cushman & Wakefield’s Warren Dahlstrom, Jim Luck, Martin Ryan and Stewart Calhoun, seller Lord Baltimore Properties walked away with the distinction of having sold the highest priced commercial office building in the Ballston submarket–ever. Stafford Place II, which Lord Baltimore developed six years ago, sits off I-66 about 10 minutes outside of downtown Washington, DC and just across the street from the 580,000-sf Ballston Common Mall. The 11-story office property has a tenant base that includes the National Science Foundation, which occupies 35% of the building under a lease that will not expire until 2015.