Former Verizon headquarters building is up for sale
- February 10, 2014
Eastdil Secured in Washington, D.C., said Monday it has been retained as the exclusive advisor in the sale of 1310 N. Courthouse Road, a renovated 11-story Class A office building in the heart of the Rosslyn-Courthouse-Ballston Corridor that was formerly the headquarters for Bell Atlantic, which was later renamed Verizon.
The 380,752-square-foot building, off Route 50, is located one block from the Courthouse Metro station.
“We expect considerable interest because of its exceptional location, recent renovation and upside potential,” Collins Ege, managing director of Eastdil Secured, said in statement.
Built in 1983 as the corporate headquarters for Bell Atlantic, the building includes a 661-space parking garage. A recent $11.7 million renovation brought upgrades including a new lobby and common areas, new restrooms and improvements to the garage, elevator and mechanical systems.
According to Eastdil, the building is 96 percent filled, with the Federal Deposit Insurance Corp. (FDIC) its largest tenant.
Besides Route 50, the building has direct vehicular access to I-66 and is close to many restaurants and retailers.
“The vacancy rate in the Clarendon/Courthouse submarket has fallen almost 10 percentage points since 2010, thanks to its superior amenities and prime location,” said John Kevill, managing director of Eastdil. “The tremendous demographics differentiate it from other submarkets and puts it on par with some of the fastest-growing neighborhoods in the country.”