News & Press

2015 is just about over, meaning firms have been racing to get deals done and on the books. Here's a list of every significant commercial real estate transaction we could find - 25 in all since mid-November-including some prices and buyers/sellers that haven't been previously reported anywhere.

Cambridge Closes Sales of West End, Tysons Office Buildings

Cambridge Property Group has closed two office sales - one in Tysons and another in the West End - in the last two days.

globest_logo "The Harrison Building, a five-story, 101,440 square-foot office located at 1760 Old Meadow Road, which was acquired by Cambridge Property Group on behalf of a client, for $21.5 million. That would be the same Cambridge that purchased a West End office for $64 million on behalf of that same client. This deal, which was brokered by Transwestern's Mid-Atlantic Capital Markets Group, was announced on Monday.

Cambridge Property Group, announces the successful representation of Galaxy 23rd Street LLC in its acquisition of 1250 23rd Street, N.W., a 128,571 sf mixed use property in the West End submarket of Washington, DC. The project was purchased from W/G 1250 23rd Street NW LLC, whom was represented by Transwestern. Galaxy 23rd Street LLC is a joint venture between Hartford Investment Management Company (HIMCO) and Galaxy Investments LLC. 1250 23rd Street is 100% leased with over 75% of project encumbered by long term lease in excess of 10 years. Tenants have historically been attracted to the (area or property) due to its ease of vehicular access and proximity to the Foggy Bottom and Dupont Circle Metro Stations. Further, the property is strategically positioned in the heart of the West End, conveniently close to Georgetown and the Central Business District. Built in 1989, the property was renovated in 2010, which included a state of the art fitness center, new restrooms and common areas, as well as upgrades and replacements of the building systems.

Cambridge Property Group LLC is pleased to announce on behalf of its client, Galaxy Metro, LLC the purchase of 1760 Old Meadow Road in Tysons Corner, Virginia, a 101,440 square foot office building. The five-story, Class A office building, was purchased from TIAA-CREF, whom was represented by Holiday Fegnolio Fowler. Cambridge has been retained to manage and lease the property, which currently has 53,705 square feet available for lease. As part of the repositioning of the asset, it will receive comprehensive common area upgrades and the property will be renamed "Cambridge Metro Overlook". According to Andrew J. Czekaj, Managing Member of Galaxy Metro LLC, "The acquisition is a value add transaction which will enable ownership to create value through lease-up and repositioning of the asset. We will continue to focus on office assets that have a significant value add component and are within strategic growth oriented sub markets such as Tysons Corner".

A five-story Tysons Corner office building near the Silver Line's McLean Metro station and owned by TIAA-CREF was sold to a Virginia-based investment firm last week, Holliday Fenoglio Fowler announced. Harrison Metro LLC, an investment affiliate of a developer Cambridge Holdings LLC, based in Vienna, purchased the Harrison Building for an undisclosed sum. Fairfax County tax records show the building, at 1760 Old Meadow Road, was assessed at $23 million, according to public records.

Cambridge Property Group, a Vienna, VA-based real estate firm, acquired the five-story Harrison Building in McLean, VA from TIAA-CREF for an undisclosed amount.