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326,700-SF Crystal City Office Complex Trades

ARLINGTON, VA-BPG Properties takes ownership of a 326-700-sf office complex on Crystal Dr. in the Crystal City submarket. The two-building asset was sold by Monday Properties. BPG plans to upgrade and reposition the property, half of which will become vacant this June.

By Barbra Murray | Updated on March 10, 2006

ARLINGTON, VA-The two-building office property carrying the addresses of 2800 and 2900 Crystal Dr. has just traded in a deal between BPG Properties Ltd. and Monday Properties. Acting on behalf of BPG Investment Partnership VII LP, BPG Properties–which is the operating affiliate of Berwind Property Group Ltd.–acquired the 326,700-sf complex from Monday Properties.

No sale price was disclosed. Located in the Crystal City submarket, 2800 and 2900 Crystal Dr. are two 10-story office structures built in 1989 and 1990, respectively, with each featuring about 152,800 sf of leasable space. “They are well positioned to benefit from the continued revitalization of Crystal City and the amenities being developed at the adjacent 15-acre Potomac Yard site,” says BPG’s Roy C. Perry.

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