National Commercial Real Estate News From CoStar Group
Dweck Finalizes $175.6M Sale of Trophy Asset in VA
Dweck Properties completed its trade of Arlington Gateway, a 12-story, 333,948-square-foot office building in Ballston, VA, to Piedmont Office Realty Trust for $175.6 million or $526 per square foot.
The JBG Cos. sold the asset to Dweck for $125.5 million in May 2005. Piedmont purchased Arlington Gateway as part of its expansion plan into the Washington, DC, market with a trophy property that has strong cash flow, according to listing broker Gerry...