Washington, DC – Cassidy Turley today announced that it arranged the sale of Three Ballston Plaza, a 304,166 square foot Class A office building located in Arlington, Virginia. Paul Collins, Bill Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy Turley represented the seller’s advisor, Cornerstone Real Estate Advisers LLC. AEW Capital Management, L.P. (AEW) acquired the property on behalf of AEW Core Property Trust (U.S.), an open-end core fund managed by AEW.
Three Ballston Plaza is prominently located in the Rosslyn-Ballston Corridor, directly off the I-66 exit, offering tremendous visibility from the Interstate. The Ballston Metro Station is within walking distance, as well as the Ballston Common Mall, Ballston’s Westin Hotel and numerous surrounding retailers, providing an outstanding and immediate amenity base at the property. Additionally, downtown Washington, DC, the Pentagon and Ronald Reagan National Airport are minutes away. This multi-tenant property is 92 percent leased. The property has two premier anchor tenants, CACI International, Inc. and Jacobs Engineering Group Inc.
About AEW Capital Management, L.P.
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $29 billion of capital invested in approximately $43 billion of property and securities in North America, Europe and Asia (as of December 31, 2009). On behalf of many leading institutional and private investors, the firm actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris and Singapore, as well as additional offices in nine European cities. For more information please visit www.aew.com.
About Cassidy Turley
Cassidy Turley is one of the largest commercial real estate services providers in the U.S., with 420 million square feet of managed space in 57 locations and $16 billion in completed transactions for 2008. The firms comprising Cassidy Turley include Cassidy & Pinkard Colliers in Washington, DC, Colliers Turley Martin Tucker in the Midwest, Colliers ABR in New York City and Colliers Pinkard in Baltimore, Charlotte and Raleigh, along with the addition of BT Commercial and CPS in Northern California (formerly affiliated with NAI and CORFAC, respectively), BRE Commercial in Southern California and Phoenix (both formerly affiliated with Grubb & Ellis) and Colliers Houston & Co. of New Jersey. Collectively, the Cassidy Turley firms have over 360 shareholders. Through its team of experienced service professionals, Cassidy Turley focuses on the needs of its clients, offering end-to-end services delivered across a full spectrum of commercial real estate including Capital Markets, Corporate Services (which supports more than 22,000 locations), Landlord and Tenant Representation and Property and Project Management. The firm also offers specialty services and industry focused practice groups as well as first class market research. In addition, Cassidy Turley is a leader in assisting clients to create more sustainable workplace environments. 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