Skanska USA Sells 1776 Wilson Blvd.
Atlanta-based Invesco Real Estate expanded its Mid-Atlantic footprint with the acquisition of 1776 Wilson Blvd. in Arlington, VA from Skanska USA Commercial Development for $90 million, or approximately $650 per square foot.
Completed in 2012, 1776 Wilson is a 139,394-square-foot, Class A mid-rise situated minutes outside of Washington, D.C. in the Rosslyn submarket. The property consists of office and retail space and is currently 90% leased to a tenant roster that includes LMO Advertising, National Association of Chain Drug Stores, U.S. Civil Research & Development Foundation, Black & Veatch Corporation, Pier 1 Imports, 100 Montaditosa and Skanska.
Notable as the first property in Arlington to achieve LEED Platinum certification under the most current version of the U.S. Green Building Council’s Core & Shell certification program, the Skanska-developed 1776 Wilson building boasts a number of sustainable features including a building dashboard which monitors the building and tenant energy level uses, an expansive green roof, air sensors that regulate outdoor air intake to optimize ventilation and improve indoor air quality, and an on-site photovoltaic array which produces more than 1% of the building's total energy use. The property also features a fitness center, shower facilities and a green roof terrace available to its office tenants.
Skanska acquired the development site in May 2010 and self-financed 100% of the development costs. Skanska USA Building carried out the construction. Additional D.C.-area Skanska USA projects include 99M St. SE in the Capital Riverfront, 22M, 44M and 88M St. NE in NOMA, and 2100W Pennsylvania Ave. NW.
Paul Collins, William Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley coordinated the disposition on behalf of Skanska USA.
Please see CoStar Comp #3072119 for more information on the transaction.