Washington, DC – Cassidy Turley announced today that it arranged the sale of 925 and 1000 Corporate Drive, two Class A office buildings totaling 270,822 square feet located in Stafford County, Virginia and owned by the Silver Companies. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the buyer, Washington Real Estate Investment Trust. Phillip Baxter and David Newman represented the seller. Washington Real Estate Investment Trust acquired the properties for $68,000,000.
Developed by the Silver Companies of Fredericksburg, Virginia, 925 and 1000 Corporate Drive are located in Quantico Corporate Center. The entire development will include one million square feet of Class A office space. The assets are ideally situated adjacent to the Marine Corps Base, Quantico, and will support the future real estate requirements of defense contractors and various vendors serving the Base. Currently 100 percent leased, the properties have generated significant demand from major defense contractors such as BAE Systems, General Dynamics and MTCSC. Built in 2007 and 2009, respectively, 925 and 1000 Corporate Drive also offers immediate access and visibility from Interstate 95. The third building at Quantico Corporate Center is being pre-leased by the Silver Companies and is slated to start construction later this year.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider in the U.S., with 420 million square feet of managed space, 58 offices, 19 national markets, and more than $13 billion in completed transactions for 2009. Outside of North America, Cassidy Turley partners with GVA Grimley, the founder and majority shareholder of GVA Worldwide. Cassidy Turley serves owners, investors and occupiers by offering integrated, tailored solutions across a full spectrum of commercial real estate services including capital markets, corporate services (which supports more than 25,000 locations), project leasing, property management, project and development services, and tenant representation. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey. Please visit www.cassidyturley.com for more information about the company.
Maureen Wheeler 202.463.1138