Cascade Realty Partners has acquired a 30,361 square foot office building strategically located at the corner of Columbia Pike and Glebe Road in Arlington, VA, for $4.8 million in an all-cash transaction. . Situated on a 1.5 acre site and 75 percent leased to Bank of America, 3401 Columbia Pike has future development potential within a rapidly transforming corridor.
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Urban Investment Partners (UIP) has acquired Rhode Island Gardens, with 81 apartment homes, for $7.6 million. Originally built in 1931, the property is located at 230 Rhode Island Avenue NE just a half mile from the Rhode Island Avenue Metro station. UIP and the tenants’ association worked together to plan a $7 million renovation to modernize the building and add five new apartment homes.