Washington REIT Picking Up 400K-SF Arlington Tower for $250M

Washington Real Estate Investment Trust is acquiring Arlington Tower, an iconic office building in Rosslyn, VA for $250 million. The 398,000-square-foot Class A property is located in the heart of the rapidly developing Rosslyn submarket. The off-market transaction is expected to close in the first quarter of 2018.

The 19-story property at 1300 North 17th Street is situated just two blocks from the Rosslyn Metrorail station. With a distinctive reflective glass facade, Arlington Tower is one of Rosslyn’s most recognizable landmarks.

The building underwent roughly $16-million in capital improvements over the past five years, and is currently leased to tenants including B. Riley FBR, Raytheon/BBN Technologies, Promontory Interfinancial Network, Pepco, the National Electrical Manufacturers Association, and Graham Holdings Company.

Separately, Washington REIT has also executed a non-binding Letter of Intent with an institutional buyer to sell 2445 M Street, NW, a 292,000-square-foot DC office building.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Washington REIT Picking Up 400K-SF Arlington Tower for $250M

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Washington REIT Picking Up 400K-SF Arlington Tower for $250M

Inside The Story

About Dennis Kaiser