Another trophy office building goes on the market in Northern Virginia
- April 19, 2011
A 356,370-square-foot, Class A office building in the Rosslyn-Ballston Corridor is on the market. Cushman & Wakefield said Tuesday today that it has been selected by MetLife to market the property at 1320 North Courthouse in Arlington for sale or joint venture investment.
“Given the current market conditions and the building’s premier location, we believe this property will be well received by investors and developers looking to acquire high quality real estate in the D.C. area,” Senior Managing Director Susan Carras said in a statement. She and Senior Managing Director Brian Dawson are leading the assignment.
Arlington’s Rosslyn-Ballston Corridor is a mixed-use, transit-oriented development. It’s home to many corporations, government agencies and government contractors. Cushman & Wakefield said the building was substantially vacated by Verizon at the end of last year and presents an opportunity for an investor or owner occupant to buy the only large block of space available in the Rosslyn-Ballston corridor today.
MetLife has had an ownership stake in the property since December 2010. Investors and real estate investment trusts have already purchased many trophy office properties in the Washington, D.C. metro market.