ARLINGTON, VA—A source has told GlobeSt.com that TIAA has found a buyer for Market Common Clarendon, a mixed-use community in this Arlington submarket that includes 400,000 square feet of retail and 300 apartments.
TIAA, which has owned the property for some 13 years, tapped CBRE to market it, possibly in 2015, judging from the date of the marketing materials.
Our source tells us that a joint venture between Jacksonville, FL-based Regency Centers and Arlington, VA-AvalonBay Communities has a contract pending on the development roughly in the neighborhood of $410 million.
The three properties that are trading as part of the deal are the retail component at 2700 Clarendon Blvd.; the apartment building at 2800 Clarendon Blvd.; and the office building at 2801 Clarendon Blvd.
We have reached out to the principals in the transaction and will update the story if/when we hear back.
ARLINGTON, VA—A source has told GlobeSt.com that TIAA has found a buyer for Market Common Clarendon, a mixed-use community in this Arlington submarket that includes 400,000 square feet of retail and 300 apartments.
TIAA, which has owned the property for some 13 years, tapped CBRE to market it, possibly in 2015, judging from the date of the marketing materials.
Our source tells us that a joint venture between Jacksonville, FL-based Regency Centers and Arlington, VA-AvalonBay Communities has a contract pending on the development roughly in the neighborhood of $410 million.
The three properties that are trading as part of the deal are the retail component at 2700 Clarendon Blvd.; the apartment building at 2800 Clarendon Blvd.; and the office building at 2801 Clarendon Blvd.
We have reached out to the principals in the transaction and will update the story if/when we hear back.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
