​Transwestern announced today that it brokered the sale of 8283 Greensboro Drive, Tysons Corner, Virginia, a nine-story Class “A” office building totaling 223,000 square feet.  The property was acquired by Washington Real Estate Investment Trust (WRIT) from John Marshall II Associates for $73,500,000. WRIT assumed the in-place note of $54,100,000. Transwestern’s Institutional Commercial Group brokered the sale on behalf John Marshall II Associates.

Centrally situated in Tyson’s Corner, Virginia on Greensboro Drive, the property is 100 percent leased through January 2016 to Booz Allen Hamilton, one of the world’s largest consulting firms. Built in 1996, John Marshall II is part of the firm’s four-building corporate complex and the showpiece of its global headquarters.  With access to the highly-skilled workforce attracted to “The Hill” of Tyson’s Corner’s marquee tenants, John Marshall II sits on one of the area’s most desirable office locations. Furthermore, the three-acre site has been up-zoned and has the potential for an additional 600,000 square feet of FAR. The property is less than 500 feet from the future Tyson’s Central 7 Metrorail station, which is currently under construction and due for completion in 2013.  John Marshall II is less than one mile from major regional thoroughfares including Leesburg Pike (Rt. 7), Chain Bridge Road (Rt. 123), Dulles Toll Road (VA-267) and the Capital Beltway (I-495). 

According to Delta Associates, investment sales in Northern Virginia totaled $483 million during the second quarter of 2011, compared to $373 million during the first quarter. The average sales price was $285 square feet during the first half of 2011, compared with $253 square feet during 2010.  Delta Associates expects the Northern Virginia office market will experience steadily improving conditions during the balance of 2011, as approximately 19,300 new jobs are added to the area. The Northern Virginia office market should continue to attract some District tenants with its competitive buildings at lower rents, especially at Metro-served locations such as John Marshall II.

Transwestern’s Institutional Commercial Group focuses on institutional investment services throughout the Washington, D.C. region, providing their clients with exceptional service and market knowledge.  Over the past 12 months, the Institutional Commercial Group’s transactions have totaled over $1 billion in aggregate value.  Their success is a direct result of their detailed underwriting and keen understanding of the local, national, and international investment communities.  For more information on the Institutional Commercial Group, please visit www.Transwestern-ICG.net or call Gerry Trainor, Executive Managing Director at 202.775.7091 .

About Transwestern
Transwestern is a national, privately-held operating company specializing in commercial real estate services, investment and development.  The firm’s fully integrated approach delivers value to owners, investors and users of commercial real estate through innovation, penetrating market intelligence and legendary service delivered by teams of local experts.  Transwestern has product specialties in office, industrial, retail, multifamily and healthcare and is an industry leader in sustainability solutions and in market research through its affiliate, Delta Associates.