Washington Property Company (WPC) of Bethesda, MD has acquired two office buildings in the Maryland and Virginia suburbs of Washington, DC for a total of $7.96 million. These acquisitions – one in Montgomery County, MD and the other in Fairfax County, VA – represent deep-value opportunities from motivated sellers.
Washington REIT has signed a contract to acquire 600 New Hampshire Avenue, NW, a 309,000 square foot Class A office building on the Potomac riverfront in Washington, DC, for approximately $135 million ($437 per square foot). Built in 1972 and renovated extensively in 1997, the 12-story Watergate 600 is one of the six buildings that comprise the internationally recognized Watergate complex. Atlantic Media is the lead tenant under a long-term lease.
Atlantic Realty Companies of Tysons, VA and New York-based alternative investment firm Angelo, Gordon & Co. have acquired Tysons Concourse from California State Teachers’ Retirement System for $78.8 million. They JV plans a $6 million renovation.
Washington Property Co. Opens CubeSmart in Rockville, MD; Acquires I-270 Office Building in JV with Alex. Brown
Washington Property Company (WPC) of Bethesda, MD has completed converting an 82,000 square foot office building in Rockville, MD to self-storage, shortly after acquiring the adjacent office building in a joint venture with Baltimore-based Alex. Brown Realty, Inc. for $17 million. The new storage facility is now open for business at 4 Research Place, and […]