Transwestern Brokers Disposition of 235,568 SF Office Building

Transwestern today announces it represented Ballston Metro Investors LLC in the sale of Ballston Metro Center to a joint venture between PERSEUS Realty and ELV Associates for $69.5 million. The 235,568-square-foot office building is located at 901 N. Stuart St. in Arlington, Virginia, directly above the Ballston Metro Station. Gerry Trainor and Mark Glagola of Transwestern’s Mid-Atlantic Capital Markets Group were the lead listing agents for the property.

“PERSEUS Realty’s acquisition of Ballston Metro Center is well-timed, as it has direct covered access to the Ballston Common Mall, which is currently being redeveloped into Ballston Quarter,” said Trainor. “The redevelopment will create significant demand for this value-add investment property.”

The $317 million renovation of Ballston Common Mall into Ballston Quarter is set to deliver in 2017. This revitalization project will create an entertainment-focused central gathering place with street-facing retail and a pedestrian plaza – all within one block of Ballston Metro Center.

According to Transwestern research, the RCB Corridor office submarket improved during third quarter 2016, as net absorption was positive 288,000 square feet, including 52,000

PERSEUS plans to invest significant capital into the project to reposition it and accelerate lease up.

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Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.