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Washington DC  + DC Metro  + Office  | 

Velocis Buys Rosslyn Offices in Value-Add Play

Dallas-based private equity real estate manager Velocis purchased 1530 Wilson Blvd., a 171,373-square-foot, Class A office building in Rosslyn, VA, reportedly for $71.4 million. The 10-story building was acquired in an off-market transaction from a client represented by Invesco Real Estate, and is Velocis Fund III’s first acquisition.

Velocis will focus its value-add efforts on attracting new tenants. A multimillion-dollar building improvement program, to begin within the year, will include renovating the lobby and exterior façade, refreshing common areas, upgrading the fitness center and conference room, and implementing a fully capitalized leasing program.

“1530 Wilson represents an opportunity to acquire a high-quality office asset with significant in-place, credit-worthy cash flow in an irreplaceable location in the Rosslyn submarket,” said Paul Smith, Velocis partner. “This asset and the Northern Virginia market fit nicely in the Velocis investment strategy.”

Lincoln Property Company’s Washington, D.C. office will continue to lease and manage the property, currently 81% occupied.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition