O wners , D evelopers & M anagers

Real Estate Journal — Section B


M id A tlantic

139,394 s/f office and retail space sold to Invesco Real Estate Skanska USA sells 1776 Wilson Boulevard in Virginia for $90 million


ing stations in the under- ground garage 1776 Wilson Blvd. is 90% leased. Including Skanska, current tenants are LMO Advertising, National Asso- ciation of Chain Drug Stores, U.S. Civil Research & Devel- opment Foundation, Black & Veatch Corporation, Pier 1 Imports, and 100 Monta- ditos. “The success of this project can be attributed to the build- ing’s efficient, sustainable design and high-quality con- struction,” said Rob Ward , executive vice president for Skanska. “We feel 1776 Wil- son Boulevard responded extremely well to the needs of our customers and pro- vided first-rate finishes and amenity offerings in a great location in Rosslyn.” n

RLINGTON, VA — SkanskaUSACom- mercial Develop-

Council ’s Core & Shell cer- tification program. The building’s additional sustainable elements in- clude: •An on-site photovoltaic array which produces over 1.0% of the building’s total energy use •A building dashboard which monitors the building and tenant energy use levels •An extensive green roof which reduces storm water overflow and urban heat island effects •Air sensors that regu- late outdoor air intake for optimized ventilation and improved indoor air quality •Low-VOC requirements for adhesives, sealants, paints and coatings •Bike storage, shower fa- cilities and electric car charg-

HI-LIGHTS A ugust 29 - S eptember 11, 2014 1776 Wilson Blvd. boasts 139,394 s/f of highly sustain- able office and retail space, a fitness center, and a green roof terrace accessible to all office tenants. Skanska ac- quired the site in May 2010, and self-financed 100% of the development costs for ment announced it has sold its office property at 1776 Wilson Blvd. in Arlington, to an institutional client of Invesco Real Estate.

1776 Wilson Boulevard

first commercial office build- ing in Arlington, Virginia to achieve LEED Platinum un- der the most current version of the U.S. Green Building

the five-story, class A proj- ect, which was completed by Skanska USA Build- ing Inc. in November 2012. 1776 Wilson Blvd. was the

Rittenhouse sells 50 student apartments and 14 retail spaces for $3.575 million

Governor’s Conference onHousing and Economic Development DERMODY PROPERTIES BREAKS GROUND ON INDUSTRIAL FACILITY 7-16B

PHILADELPHIA, PA — Rittenhouse Realty Advi- sors is announced the sale of Husky Korners Plaza, a stu- dent housing complex adjacent to Bloomsburg University. The three properties were built in 1939 and converted to student housing in 1986, totaling 86 beds and 14 retail commer- cial spaces. The transaction also included a parcel with 80 income producing parking spots across the street from the complex. The units, which range from studios to four bedrooms, his- torically have had 100% occu- pancy. Rents for this property are the lowest in the market, which presented a tremendous value add opportunity to the new owners. "This is RRA's second sizable transaction in this marketplace, with anoth- er great opportunity currently for sale. Given the proximity to NYC and Philadelphia, along with increased interest in stu- dent housing properties from investors, Bloomsburg Univer- sity is a very attractive market for potential buyers from out-




Husky Korners Plaza

www.marejournal.com ALSO INSIDE NJAA................................19B Green Buildings........21-27B IREM........................... 28-IBC

side the immediate area," said Corey Lonberger , managing partner. Due to strict student hous- ing laws there are extremely high barriers to entry for student housing in Blooms-

burg, which aids in preserv- ing a strong student housing rental market. Though there was much outside interest in purchasing the property, the buyer was an established lo- cal owner. “The outstanding

location and upside potential make Husky Korners Plaza a prime candidate for reposi- tioning in this high occupancy submarket with high barriers to entry,” said Steve Miceli , associate at RRA. n

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