{"id":1004085544,"date":"2013-10-21T19:04:03","date_gmt":"2013-10-22T03:04:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=199860"},"modified":"2020-04-16T01:26:45","modified_gmt":"2020-04-16T09:26:45","slug":"afl-cio-bit-to-sell-five-building-portfolio-in-tysons-corner","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/afl-cio-bit-to-sell-five-building-portfolio-in-tysons-corner\/","title":{"rendered":"AFL-CIO BIT to Sell Five-Building Portfolio in Tysons Corner"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">In August 2011, <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/wash123451.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-199887\" title=\"wash12345\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/wash123451.jpg\" alt=\"\" width=\"300\" height=\"164\" \/><\/a>the\u00a0AFL-CIO Building Investment Trust added a five-building portfolio in Tysons Corner to its Washington, D.C.-area properties. \u00a0Now, the trust is looking for buyers for the portfolio.<\/p>\n<p style=\"text-align: justify;\">The trust paid $138.5 million for the properties. Transwestern\u2019s Washington, D.C.-based Institutional Commercial Group brokered the portfolio\u2019s sale in 2011 on behalf of TDC LLC, and has again been hired to market the five properties.<\/p>\n<p style=\"text-align: justify;\">The portfolio is called the Tysons East Metro Portfolio. It consists of five contiguous commercial buildings located on more than 17 acres of land, at 1755, 1761, 1764, 1764-A and 1768 Old Meadow Road in Tysons Corner. The properties, two office buildings and three data centers, total 310,772 square feet and, according to a press release by Transwestern, are currently 98 percent leased to six major corporate users with an average remaining\u00a0lease term of more than eight years. The property is being offered free of debt and its net operating income exceeds $10 million.<\/p>\n<p style=\"text-align: justify;\">The site can also be redeveloped into more than 1.75 million square feet of residential space. It is within walking distance of the Tysons East Metrorail station and other amenities, like Tysons I and Tysons II Galleria, Sport &amp; Health, The Capital Grille, Palm Restaurant and multiple parks.<\/p>\n<p style=\"text-align: justify;\">Transwestern\u2019s Institutional Commercial Group is led by Executive Managing Director Gerry Trainor. It also includes Jim Cardellicchio, Mark Glagola, Bob Filley, Dan Speilman, Wesley Machowsky and Clifton McCrory. Since 2011, the group has brokered transactions with a total value of over $2 billion.\u00a0 Recently, <em><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/southwest\/tiaa-cref-transwestern-to-develop-600-ksf-class-aa-office-tower-in-houston\/\">Transwestern started work together with TIAA-CREF on a 30-story Class double-A office tower in Houston<\/a>.<\/em><\/p>\n<p style=\"text-align: justify;\"><em>Photo credits: <a href=\"https:\/\/maps.google.com\/\u200e\" target=\"_blank\" rel=\"nofollow\">Google Maps<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In August, 2011, the AFL-CIO Building Investment Trust added a five-building portfolio in Tysons Corner to its Washington, D.C.-area properties.  Now, the trust is looking for buyers for the same portfolio.<\/p>\n","protected":false},"author":925,"featured_media":1004507277,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21742,1615],"tags":[1815],"class_list":["post-1004085544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-latest","category-washington-dc","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AFL-CIO BIT to Sell Five-Building Portfolio in Tysons Corner - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/afl-cio-bit-to-sell-five-building-portfolio-in-tysons-corner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AFL-CIO BIT to Sell Five-Building Portfolio in Tysons Corner\" \/>\n<meta property=\"og:description\" content=\"In August, 2011, the AFL-CIO Building Investment Trust added a five-building portfolio in Tysons Corner to its Washington, D.C.-area properties. 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