$32.5 Million Office Financing Secured by Carr Properties For Atrium Building in Alexandria, VA

Financing Arranged by Cassidy Turley’s John Campanella and Paul Spellman

Published on May 13, 2013


WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged $32.5 million in permanent financing for the Atrium Building, a 138,507 square foot, Class A office building located at 277 South Washington Street, in Northern Virginia’s Old Town Alexandria submarket. 

John Campanella, Executive Managing Director, and Paul Spellman, Vice President, of Cassidy Turley arranged the financing on behalf of Carr Properties.  The loan was provided by a commercial bank. 

“Atrium set a new pricing record for suburban office in 2013” remarked John Campanella. ”But the Carr Properties’ sponsorship made the key difference in attracting all of the top lenders.”

The Atrium Building, a five-story, 94% leased office building, features an expansive lobby atrium with finishes that include patterned Italian marble floors, cherry paneling inserts and brass accents.  It offers on-site amenities such as Society Fair, a full-service restaurant and market; a two-level underground parking garage with 232 parking spaces; and access to Old Town Alexandria’s central dining and shopping corridor, which includes approximately 1.5 million square feet of retail. Located one block south of King Street, only seven miles south of Washington, DC, tenants have immediate access to Ronald Reagan Washington National Airport, US Route 1 and other major thoroughfares such as the Capital Beltway (I-495) and Interstate 95.

In 1999, a building renovation was completed.  The building has also achieved the ENERGY STAR Award from the US Environmental Protection Agency with a score of 98 out of 100. 

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.

Maureen Wheeler
(202) 463-138

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