WASHINGTON, DC, January 29, 2018 –
Cushman & Wakefield announced today their new partnership with Washington Real Estate Investment Trust, becoming the exclusive leasing agent for Arlington Tower. The building, located at 1300 N 17th
Street in Rosslyn, was acquired by Washington REIT earlier this month in one of the largest office deals in recent history. Brokers Spencer Stouffer, Joshua Masi, Jeanette Ko and Caroline Collins are now responsible for the lease-up of the building.
“We are very excited to expand our relationship with Washington REIT,” said Spencer Stouffer, the lead broker on this project. “This is an opportunity for us to attract, retain, and diversify the breadth of tenants in the Rosslyn Business District.
Arlington Tower is a Class A Trophy building with approximately 397,000 sf. The building is in a prime location, being near a variety of retail and dining options while also being in close proximity to several modes of transportation—most notably the Rosslyn Metrorail Station. Over the past five years, the building underwent $17.5 million in renovations, including the addition of a private rooftop deck, fitness center, a landscaped outdoor plaza, updated lobby and improved five-level underground parking. Washington REIT plans to further enhance the building with “smarter offices” allowing small and mid-size tenants the option for quick move-ins and flexible terms.
“We seek to maximize our ability to create value for our shareholders by recycling capital-intensive legacy assets with single-tenant exposure into Arlington Tower, a recently upgraded, high-quality asset with a diversified tenant base and dramatic river and monument views,” said Paul T. McDermott, President and Chief Executive Officer of Washington REIT. “As we drive strong pre-leasing activity at Watergate 600, Arlington Tower enables Washington REIT to offer tenants another option with spectacular views at a meaningfully different price point, and to create a compelling value proposition for small and mid-size tenants in a resurging Rosslyn, where we have successfully repositioned and leased 1600 Wilson.”
About Washington REIT
Washington REIT is a self-administered, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. Washington REIT owns a diversified portfolio of 49 properties, totaling approximately 6.4 million square feet of commercial space and 4,268 multifamily units, and land held for development. These 49 properties consist of 20 office properties, 16 retail centers and 13 multifamily properties
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.