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Washington DC & Mid-Atlantic  + Office  |  February 21, 2020
Paul Bubny
By: Paul Bubny

Washington REIT Selling Single-Tenant Tysons Offices

Washington Real Estate Investment Trust (WashREIT) said it had entered into a contract to sell its John Marshall II office property in Tysons, VA for approximately $63.4 million, a $10-million loss on the 2011 acquisition price. WashREIT announced the pending transaction in its fourth-quarter 2019 earnings release earlier this month.

The nine-story, 223,000-square-foot John Marshall II is 100% leased to Booz Allen Hamilton, which has maintained its global headquarters there since before WashREIT acquired the property. The management and IT consulting firm renewed its lease in 2016 through 2026.

WashREIT said the sale is expected to close on March 26, and would eliminate the company’s remaining exposure to single-tenant assets.

For comments, questions or concerns, please contact Paul Bubny

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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 16-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 7-10 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 GlobeSt.com 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).
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