Skanska USA sells Arlington office property for $90 million

Published July 21, 2014 by Paula C. Squires

Skanska USA Commercial Development has agreed to sell a 139,394-square-foot office property in Arlington County to an institutional client of Invesco Real Estate. According to the Washington Business Journal, the sales price is $90 million.

Skanska said in a press release that the property, office and retail space at 1776 Wilson Blvd., is 90 percent leased.

The company acquired the site in May 2010 and self-financed all of the development costs for the five-story, Class A project. Completed in November 2012, the property was the first commercial office building in Arlington to achieve LEED platinum (the highest sustainable building rating) under the U.S. Green Building Council’s Core and Shell certification program.

The building offers a fitness center, a green roof, which reduces storm water over flow, and a photovoltaic array which produces more than 1 percent of the building’s total energy use.

Besides Skanska, current tenants include LMO Advertising, National Association of Drug Stores and Pier 1 Imports.