HERNDON, VA– One Global View, a 217,088-square-foot office building here has sold to Tritower Financial Group, based in Boston, Mass., for $61.5 million. The nine-story building is 87% leased to five tenants and anchored by Airbus Group, which occupies 58% of the space. One Global View is the closest high-rise office building to Dulles International Airport.
NKF Capital Markets' Jud Ryan and James Cassidy represented the seller, an institutional owner which records show is Prudential Financial's PGIM Real Estate.
Investor demand was strong for this core-plus asset, Ryan tells GlobeSt.com. The property ultimately wound up trading for $284 per square foot, compared with the average price for suburban Virginia assets, which has been around $199 per square foot, he says. “This deals shows that a metro-served product asset in and around the area are achieving a premium in our marketplace.”
Continue Reading for Free
Register and gain access to:
- 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
© 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.
