A Quincy and 3 Presidents Sold

On behalf of Aslan Realty Partners II, L.P., Randall K. Rowe and Stephen R. Quazzo of Transwestern Investment Company, L.L.C acquired four class-A office towers totaling more than 836,000 square feet in Arlington and Herndon, Virginia. The properties sold include, 2900 S Quincy Street (Quincy Tower), 13861 Sunrise Valley Drive (President Park I), and 13865 Sunrise Valley Drive (President Park II), and 2525 Network Place (Presidents Park III). All four buildings were previously under the ownership on Monument Realty LLC and Apollo Real Estate Advisors. Neither Transwestern Investment nor Monument Realty would disclose the purchase price. According to Jeffrey T. Neal, Principal at Monument Realty, "We developed and constructed these buildings at a low cost basis, so we were able to profit. The offer was simply too good to pass up." Stephen Quazzo, CEO of Transwestern Investment Company stated, "The continued strength of the Washington area economy and increased federal procurement spending on the horizon makes this a strong value-added opportunity." Transwestern Commercial Services will manage and lease the properties. The team of Edwin Clark, Steve Hoffeditz, Matt Bundy, and Amy Makrigiorgos will handle the leasing for Presidents Park I, II, and III. David Millard, Peter Berk, and Josh Masi will handle leasing for Quincy Tower.