NoVA tower near Amazon HQ2 gets new owner

Published May 20, 2019 by Michael O'Connor

An office tower in Arlington County sitting near Amazon’s HQ2 has a new owner.

Presidential Tower office building at 2511 Jefferson Davis Highway sold on Thursday for $123.2 million to PT Office Owner LLC, according to Arlington County’s Department of Real Estate Assessments. The 349,303-square-foot building was most recently assessed by the county for $70.45 million.

PT Office Owner lists a Connecticut address for its principal office. It’s the same address as the headquarters for Starwood Capital. Beacon Capital Partners was the seller in the deal, according to Newmark Knight Frank.

Presidential Tower is two blocks away from the Amazon HQ2 site announced last year in the recently dubbed National Landing neighborhood. The office building is 95% leased and has been renovated in recent years. Upgrades have been made to the main lobby, common areas and restrooms.

Newmark Knight Frank’s executive managing directors Jud Ryan and James Cassidy and co-head of U.S. capital markets Robert Griffin worked on the sale.

A Newmark Knight Frank team that arranged financing included vice chairmen and co-heads of capital markets debt & structured finance Dustin Stolly and Jordan Roeschlaub along with vice chairmen Joe Donato and Maury Zanoff.