Brandywine Realty Trust sold South Lake at Dulles Corner, located in Herndon, Va., for $91.1 million.
Brandywine had completed the development of the 268,240-sq.-ft. office building in November 2008 and leased the entire building to Time Warner Cable Inc.
"The sale of this property achieves our objective of maximizing value from our existing portfolio," Gerard H. Sweeney, president and CEO of Brandywine Realty Trust, said in a statement. "It strengthens our balance sheet by providing additional liquidity, provides additional capital for our investment activities and demonstrates our commitment to execute key components of our 2012 business plan."
Cassidy Turley marketed the property for sale on behalf of Brandywine. The buyer is Wells Core Office Income REIT.
