Cushman & Wakefield will market Century Center at Crystal City
- August 7, 2014
Lowe Enterprises has selected Cushman & Wakefield to lease and market Century Center at Crystal City in Arlington. The two office buildings, totaling 560,000 square feet, are 70% percent leased.
“We see a great opportunity to acquaint prospective tenants with this revitalized property in a submarket that offers an enticing array of amenities as well as proximity to downtown Washington, D.C., the Pentagon and Reagan National Airport,” Walsh said in a statement.
Century Center at Crystal City encompasses 2450 Crystal Drive and 2461 South Clark Street and is located two blocks from the Crystal City Metro station. A 60,000-square-foot, first-floor retail corridor with restaurants, cafes, banking and other conveniences connects the two 12-story office buildings.
Lowe Enterprises, a Los Angeles-based real estate investment, development and management firm, recently completed $30 million in upgrades to the building. The enhancements included the building’s systems, common areas and the retail streetscape along Crystal Drive, adding 17,000 square feet of retail space.
Current tenants include the General Services Administration (GSA), DeVry University and Raytheon.
Lowe Enterprises Investors acquired and manages Century Center on behalf of an investment client. The Cushman & Wakefield team on the assignment consists of Executive Directors Matt Bundy and Josh Masi, Senior Director Kay Chewning, Director Tom Walsh and Associate Jon Mahaffey.
Lowe Enterprises opened a Washington, D.C., area office in 1980 and is an investor and developer of commercial real estate throughout the region. The company currently is developing the 853,000-square-foot Fort Totten Square mixed-use project in the district and the 704,571-square-foot, two-tower, National Science Foundation Headquarters in Alexandria, on behalf of a USAA Real Estate Company affiliate.
Altogether, it currently manages nearly two million square feet of commercial property in the Washington, D.C. area.