{"id":1004171406,"date":"2017-04-04T06:14:57","date_gmt":"2017-04-04T14:14:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004171406"},"modified":"2022-12-04T20:11:37","modified_gmt":"2022-12-05T04:11:37","slug":"wpc-acquires-8m-office-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wpc-acquires-8m-office-buildings\/","title":{"rendered":"WPC Acquires $8M Office Buildings"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004171407\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004171407\" data-attachment-id=\"1004171407\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/wpc-acquires-8m-office-buildings\/3160-fairview-park-blvd\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png\" data-orig-size=\"800,531\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"3160 Fairview Park Blvd\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png?w=800\" loading=\"lazy\" class=\"wp-image-1004171407 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png\" alt=\"3160 Fairview Park Blvd., Fairfax County, Va.\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png?resize=300,199 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png?resize=768,510 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004171407\" class=\"wp-caption-text\">3160 Fairview Park Blvd., Fairfax County, Va.<\/p><\/div>\n<p>Washington Property Co. (WPC) announced the acquisition of two office buildings in the Maryland and Virginia suburbs of Washington, D.C. for a\u00a0total of $8 million. Computer Science Corp. (CSC) sold WPC a 116,000-square-foot office building in Fairfax Country, Va., for $7.2 million. In the Wheaton\/Glemont area of Maryland, Cornerstone Realty Advisors sold WPC a 28,000-square-foot office asset for $815,000.<\/p>\n<p>Located at 3160 Fairview Park Blvd., just off I-495, the 116,000-square-foot building is situated in one of the area\u2019s preeminent office parks. In 1987, the company constructed the property as CSC\u2019s headquarters and now has consolidated into other locations. James Molloy of JLL represented the seller in the transaction.<\/p>\n<p><em>\u201cAt $62 per square foot, this fully functional office building represents a great opportunity for repositioning as a headquarters location,<\/em>\u201d said WPC\u2019s Andrew Eshelman, principal-acquisitions. <em>\u201cWe plan to gut all systems and renovate the building, then re-lease it speculatively to tenants seeking renovated Class A space at the lowest Class A rental rates.\u201d<\/em><\/p>\n<div id=\"attachment_1004171410\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004171410\" data-attachment-id=\"1004171410\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/wpc-acquires-8m-office-buildings\/12125-veirs-mill-rd\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png\" data-orig-size=\"800,522\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"12125 Veirs Mill Rd.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png?w=800\" loading=\"lazy\" class=\"wp-image-1004171410 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png\" alt=\"12125 Veirs Mill Rd., Wheaton\/Glenmont, Md. \" width=\"300\" height=\"196\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png?resize=300,196 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/12125-Veirs-Mill-Rd..png?resize=768,501 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004171410\" class=\"wp-caption-text\">12125 Veirs Mill Rd., Wheaton\/Glenmont, Md.<\/p><\/div>\n<p>Built in 1978, the 12125 Veirs Mill Rd. property, located at the intersection of Randolph Road and Viers Mill Road, is currently 50 percent occupied. Eric Berkman of Cushman &amp; Wakefield represented the seller.<\/p>\n<p><em>&#8220;Washington Property Company was attracted to the deep value opportunity of buying a functional and leasable office building at $28 per square foot,&#8221; Eshelman said<\/em>. &#8220;<em>The property\u2019s underlying zoning allows for future redevelopment as residential or retail space<\/em>.&#8221;<\/p>\n<p><em>Images via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington Property Co. acquired two assets in the Maryland and Virginia suburbs of D.C., with plans to renovate and reposition both properties. <\/p>\n","protected":false},"author":436,"featured_media":1004171407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,21747,1615],"tags":[34781,34782,32799,32796,34780],"class_list":["post-1004171406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-office","category-washington-dc","tag-computer-science-corp","tag-cornerstone-realty-advisors","tag-cushman-wakefield","tag-jll","tag-washington-property-company"],"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>WPC Acquires $8M Office Buildings - 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\/wpc-acquires-8m-office-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WPC Acquires $8M Office Buildings\" \/>\n<meta property=\"og:description\" content=\"Washington Property Co. acquired two assets in the Maryland and Virginia suburbs of D.C., with plans to renovate and reposition both properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wpc-acquires-8m-office-buildings\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-04T14:14:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T04:11:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/3160-Fairview-Park-Blvd.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"531\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpc-acquires-8m-office-buildings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpc-acquires-8m-office-buildings\\\/\"},\"author\":{\"name\":\"Adina Rogoz\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1e376ba4add70694b922380ddbe946d8\"},\"headline\":\"WPC Acquires $8M Office Buildings\",\"datePublished\":\"2017-04-04T14:14:57+00:00\",\"dateModified\":\"2022-12-05T04:11:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpc-acquires-8m-office-buildings\\\/\"},\"wordCount\":268,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wpc-acquires-8m-office-buildings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/3160-Fairview-Park-Blvd.png\",\"keywords\":[\"Computer Science Corp.\",\"Cornerstone Realty Advisors\",\"Cushman &amp; 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