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JV Acquires 195K-SF Office Building in D.C. Metro
A joint venture between American Real Estate Partners and an affiliate of Rockwood Capital has acquired Arlington Plaza, a Class A office building in Arlington, VA. The sales price and seller were undisclosed.
Located at 2000 15th St. in Washington, DC’s R-B Corridor, the 195,128 square-foot property has been institutionally owned since its inception. The JV plans to reposition the property to amplify the balance of nature in the workplace to create an urban sanctuary with curated amenities. When complete, the repositioned property will include activated indoor/outdoor social spaces with views of the DC skyline, integrated conferencing facilities and a modern fitness center.
“These enhancements combined with the sharply recovering R-B submarket and the volume of recent relocation activity in the area, as well as new, positive tailwinds from Amazon made Arlington Plaza an ideal target for us,” said Paul Schulman, principal and COO of AREP. “The project has been historically leased, so with the planned vacancy we have a fantastic opportunity to reposition and reintroduce Arlington Plaza to the market.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
