Tysons Corner office building sells for $73.5 million
- September 22, 2011
Rockville-based Washington Real Estate Investment Trust (WRIT) has completed its previously announced acquisition of the John Marshall II at Tysons Corner for $73.5 million.
The 10-story, 222,989-square-foot building at 8283 Greensboro Drive is fully leased to consulting firm Booz Allen Hamilton through 2016. It’s part of Booz Allen’s four-building corporate complex and serves as its worldwide headquarters.
Built in 1996, the John Marshall II underwent renovation in 2010. The three-acre property is less than 500 feet from the future Tyson’s Central 7 Metrorail station, due for completion in 2013. WRIT said in a press release that it assumed a $54.1 million mortgage bearing interest at 5.79 percent per annum and maturing in 2016. It funded the remaining balance with proceeds from recent sales of its industrial assets.
George “Skip” McKenzie, president and CEO of WRIT, said in a statement that not only is the Class A property producing a stable cash flow from Booz Allen, but “its location gives us increased allowable density for potential mixed-use development under the comprehensive plan for Tysons Corner.”