CarrAmerica Buys Park Place for $62M

ARLINGTON, VA-CarrAmerica has acquired the 22-year-old Park Place, a 168,700-sf office building in the Rosslyn submarket, for $61.7 million. Walton Street Capital had purchased the property in a joint venture with Lerner Enterprises for approximately $32.6 million in 2002. Today the property has an assessed value of $33.5 million.

Located at 1655 North Fort Myer Dr., Park Place sits off Interstate 66, and near Jefferson Davis Highway. A 13-story, freestanding tower, the site also features a three-level underground parking facility. At the time of the transaction, the property was fully occupied by a variety of tenants including American Entrepreneurs for Economic Growth, Energy and Environmental Analysis Inc. and the US headquarters of software solutions provider Comptel Communications Inc.