Piedmont Office Realty Trust purchased Arlington Gateway, a 12-story, 333,948-sq.-ft. office building in Ballston, Va., from Arlington Gateway Investors LLC for $175.6 million.
The building, located at 901 N. Glebe Road, was 99 percent leased at the time of the sale. It carries LEED Gold certification.
Transwestern’s Washington, D.C.-based institutional commercial group negotiated the transaction.
“The sale of Arlington Gateway represents a highly successful transaction for both parties,” said Transwestern’s Gerry Trainor, who represented the seller in the deal, in a statement. “We achieved excellent pricing for our client while providing Piedmont the opportunity to execute its expansion plan into the Washington, D.C. region with a trophy asset that has strong cash flow.”
