Washington Property Plans $100M Twin Offices

ROCKVILLE, MD-Washington Property Co. has acquired Washingtonian South, a 7.4-acre office site, for which the company is planning a $100-million twin office tower development. Washington Property Co. acquired the site from ORIX Real Estate Capital, Inc., for an undisclosed price, which is included in the estimated development costs. Greenwich Group International LLC represented the seller.

The site currently is approved for 350,000 sf of office space. Charles Nulsen, president of WPC, tells GlobeSt.com that the company is hoping to get approval for an additional 50,000 sf of office space.

Plans call for the development of two eight-story office buildings. The first will be approximately 200,000 sf with construction slated to begin this fall. Delivery is expected in Q1 2009. The second building is currently planned to be 150,000 sf. If WPC gets approval for expansion, it will be 200,000 sf.

Located at 9711 Washingtonian Blvd., the buildings will be a superior location on the Interstate 270 Corridor, Nulsen says. “The site’s attractiveness is its visibility and the nearby amenities.”