Ralph Dweck and his D.C.-based Dweck Properties Ltd. retained Transwestern to market Stafford Place I and Stafford Place II in Arlington, VA, which just successfully sold the properties for $300 million, according to a report by Real Estate Alert. The two trophy assets total 748,066 square feet and are 100% leased and occupied, primarily to the U.S. Government’s National Science Foundation (NSF). Dweck originally purchased Stafford Place I in 2006 for $197 million, or $355 per square foot; the year before, they'd purchased Stafford Place II in a $420 per square foot sale, which was the highest price paid for a commercial office building in the Ballston submarket at the time.
The NSF occupies 86% of the buildings and utilizes this premises as its headquarters location dispersing over $7 billion worth of grants annually to the scientific community on behalf of the U.S. Government. This premier location in the Ballston submarket of Arlington, VA has served as the NSF’s headquarters for close to 20 years due to the highly-educated workforce living in the immediate vicinity. Other tenants include CENTRA Technology, a government contractor, and the National Telecom Cooperative Association.
For more news and information visit Blumberg Partners.
