Rubenstein Partners, Griffith Properties acquire Tysons office building for nearly $28 million
An office building in Tysons has been sold to two out-of-state real estate companies for $ 27.7 million.
Rubenstein Partners, along with its partner Griffith Properties, said Tuesday they purchased The Rappahannock Building at 1550 Westbranch Drive from Corporate Office Properties Trust, a Columbia, Md.-based REIT that specializes in office and data center properties.
The six-story, Class A office building is fully leased to The MITRE Corp. The company expects to move to its main Tysons campus in 2016. Once MITRE leaves the building, the property will be upgraded and reintroduced to the marketplace since MITRE has been the building's only tenant since it was developed in 2001.
The Rappahannock Building has approximately 152,000 square feet of rentable square feet.
CBRE’s Malcolm Schweiker represented Rubenstein/Griffith during the purchase and also will handle the leasing efforts.
Rubenstein Partners is a private real estate investment firm focused on directing and managing office real estate investments, primarily in the Eastern U.S.
Griffith Properties LLC invests in office, industrial, research and development and retail properties from Boston to Washington, D.C.