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Velocis, Altus Realty Grab Greensboro Park in Tysons
Dallas-based Velocis and Altus Realty acquired Greensboro Park, a two-building, 505,085-square-foot office complex located at 8180 and 8200 Greensboro Drive in Tysons, VA. The seller was an affiliate of Beacon Capital Partners, LLC.
The 83% leased property consists of an 11-story and a 14-story office building that were renovated in 2015. Prominently located in the heart of one of Washington, DC’s most sought-after micro-markets, “The Hill,” the site has been approved for up to 520 units of additional multifamily development in two high-rise towers. The project is near the Greensboro Metro station and Tysons Galleria, and is adjacent to The Boro MXU development.
Velocis’ Paul Smith notes “…the buildings represent solid in-place cash flow with the ability to add value.” Adding that they expect “…the submarket around The Boro will continue to experience strong momentum in both leasing activity and rent appreciation.”
The seller was represented by CBRE.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
