Dweck Makes $135M Buy in Reston

Dweck Properties, the DC based real estate business, has made another acquisition in the Greater DC area with the affiliate purchase of ICON at Dulles Station for $134.8 million. According to GlobeSt.com, the seller is JLB Partners, a developer in Irvine, Texas; the news source was unable to reach either Dweck or JLB for comment on the sale.

The transaction follows two others GlobeSt.com reported this week in which Dweck Properties was the purchaser. It acquired North Tract Lofts, a 184-unit apartment building in Arlington, VA, for $68.3 million, or $370,924 per unit. It also acquired the Gramercy at Metropolitan Park in Arlington. The 399-unit apartment building traded for $190 million, or $476,190 per unit.

For more news and information visit Blumberg Partners.

Reston Office Building Back on the Market

Columbia Property Trust, the Atlanta-based REIT, announced this week that it would be targeting 14 assets for disposition during 2015; the first to go will be 1881 Campus Commons Building in Reston, VA. Columbia Property Trust acquired the office building this January in a three-building portfolio that was purchased for $436 million. According to a JayRicky.com report, the portfolio purchase was funded with a $300 million bridge loan, a $140 million draw under Columbia's unsecured credit facility, and $148 million of cash on hand, primarily generated by 2014 disposition activity.

1881 Campus Commons is a transit-oriented, Class-A office building located in Reston, Virginia, one of Washington D.C.'s largest submarkets. The recently renovated 5-story property features a state-of-the art fitness center and on-site café. SOS International and Siemens Government Services are both service and solution providers for the public and private sectors.

Other local assets it wants to sell include 1580 West Nursery Rd. in Baltimore, Maryland -- a two-building Class-A office complex that serves as the corporate headquarters for the Electronics Systems Sector of Northrop Grumman; and 800 North Frederick in Gaithersburg, Maryland, according to a GlobeSt.com report.

For more news and information visit Blumberg Capital Partners.

GSA Signs 523,500 SF DIA Lease in Metro DC

Cassidy Turley announced that the U.S. General Services Administration (GSA) has awarded a 523,482 square foot lease for the Defense Intelligence Agency (DIA) to occupy Patriots Park in Reston, Virginia just outside of DC. Situated in two towers located at 12310 Sunrise Valley Drive, a brief drive out Interstate 66 from DC proper, DIA will enter into a 20-year lease at the property located near the Reston Town Center. The complex is currently undergoing a redevelopment by Boston Properties to meet the Department of Defense’s anti-terrorism/force protections standards. The pricing of the deal was not disclosed.

"Patriots Park is the logical choice for the DIA’s new facility," said Darian LeBlanc, senior managing director of government services for Cassidy Turley, which represented the GSA in the deal. "This selection allows them to consolidate multiple locations into a highly secure campus environment, central to all of Reston’s fantastic amenities and Metro’s Silver Line." DIA is headquartered at the Pentagon in Washington, D.C., with major operational activities at the Defense Intelligence Analysis Center (DIAC), Washington, D.C., the National Center for Medical Intelligence (NCMI), Frederick, Maryland, and the Missile and Space Intelligence Center (MSIC), Huntsville, Alabama.

For more news and information visit Blumberg Capital Partners.