Paramount Takes 633,000-SF Arlington Office

ARLINGTON, VA-The ink has barely dried on Paramount Group’s contract to acquire an office tower under development in the Arlington submarket. The deal closed late Wednesday afternoon, a spokeswoman for Paramount Group tells GlobeSt.com. The 633,000-sf, 29-story office tower–already 99% preleased to the Corporate Executive Board–is part of the mixed-use Waterview complex at North Lynn and 19th streets. Paramount declined to give the building’s purchase price.

Paramount acquired the tower from the development team of JBG, CIM and Brookfield. The building is expected to deliver in September.

Paramount Group represented itself in the transaction. Its legal counsel was Alison Jones of Alston & Bird. Cassidy & Pinkard represented the seller. Michael Pickett of Bingham McCutchen was legal counsel for the development team.