RESTON, VA--A source tells us that One Dulles Corridor, a 215,000-square foot office building here has traded for $67.6 million. Westbrook Partners bought the building in 2012 for $39.5 million. Now it has sold, a source tells GlobeSt.com, to a JV between Rosenthal Properties and Wafra Investment Advisory Group, Kuwait's sovereign wealth fund.
The purchase price, according to the source, was $67.6 million or $314 per square foot.
A call placed to Rosenthal by GlobeSt.com was not immediately returned. The building, whose address is 10740 Parkridge Blvd., is now listed on its website.
The building last traded in 2012 when Westbrook Partners acquired it for $39.5 million from the estate of Christopher Walker. That sale also included an adjoining 1.9-acre vacant land site.
It delivered in 2008, just at the point when vacancy levels along the Dulles Corridor started their steep climb. For years it sat empty until tenants started to ink deals there.
RESTON, VA--A source tells us that One Dulles Corridor, a 215,000-square foot office building here has traded for $67.6 million. Westbrook Partners bought the building in 2012 for $39.5 million. Now it has sold, a source tells GlobeSt.com, to a JV between Rosenthal Properties and Wafra Investment Advisory Group, Kuwait's sovereign wealth fund.
The purchase price, according to the source, was $67.6 million or $314 per square foot.
A call placed to Rosenthal by GlobeSt.com was not immediately returned. The building, whose address is 10740 Parkridge Blvd., is now listed on its website.
The building last traded in 2012 when Westbrook Partners acquired it for $39.5 million from the estate of Christopher Walker. That sale also included an adjoining 1.9-acre vacant land site.
It delivered in 2008, just at the point when vacancy levels along the Dulles Corridor started their steep climb. For years it sat empty until tenants started to ink deals there.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
