{"id":1004278088,"date":"2018-11-08T02:11:35","date_gmt":"2018-11-08T10:11:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004278088"},"modified":"2022-12-08T02:47:44","modified_gmt":"2022-12-08T10:47:44","slug":"monday-properties-buys-206-ksf-dc-area-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/monday-properties-buys-206-ksf-dc-area-asset\/","title":{"rendered":"Monday Properties Buys 206 KSF DC-Area Asset"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004278091\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004278091\" data-attachment-id=\"1004278091\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/monday-properties-buys-206-ksf-dc-area-asset\/shirlington-gateway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg\" data-orig-size=\"800,620\" 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=\"Shirlington Gateway\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Shirlington Gateway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg?w=800\" class=\"wp-image-1004278091 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg\" alt=\"Shirlington Gateway\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/11\/Shirlington-Gateway.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004278091\" class=\"wp-caption-text\">Shirlington Gateway<\/p><\/div>\n<p>Monday Properties has acquired Shirlington Gateway in Arlington, Va. An affiliate of Choi Cos. sold the 206,200-square-foot office building for $40.8 million.<\/p>\n<p>Located at 2800 Shirlington Road, the 12-story building is located adjacent to I-395 in one of the area\u2019s most noteworthy and recognizable buildings in Northern Virginia. The property&nbsp;is within walking distance of the amenity-rich Shirlington Town Center and boasts exceptional visibility to nearly 200,000 drivers daily.<\/p>\n<p><em>\u201cThe asset is located in a highly desirable submarket with historically strong tenant demand,\u201d <\/em>Wes Machowsky, Monday Properties\u2019 senior vice president, told<em> Commercial Property Executive. \u201cThe existing tenancy at the building continues to thrive on a long-term basis and build off of&nbsp;Arlington County\u2019s strengthening economic fundamentals.\u201d<\/em><\/p>\n<h2>Well-located asset<\/h2>\n<p>The property is highly accessible from Washington, D.C., the Pentagon and Reagan International Airport and is also in close proximity to a transit station with direct routes to the Pentagon and Ballston.&nbsp;<em>\u201cThe asset is extremely well located with its proximity to Shirlington Town Center, I-395 accessibility and visibility, and the Shirlington Metrobus hub,\u201d<\/em> Machowsky said.<\/p>\n<p>According to Machowsky, the company saw the ability to reintroduce the asset to the marketplace with the weight of the Monday Properties brand&nbsp;and operational expertise.&nbsp;<em>\u201cWe expect to generate future, new tenancy demand given the new $1.3-trillion defense budget that will also benefit from Monday Properties\u2019 elevation of the asset through its operational expertise with this product type,\u201d <\/em>he said.<\/p>\n<p>Monday Properties plans to make strategic investments into the building infrastructure as well as overall improvements to enhance the tenants\u2019 office user experience. Current amenities include a fitness center and a caf\u00e9.<\/p>\n<p>In April, the company expanded its D.C.-area presence with the purchase of <a href=\"https:\/\/www.commercialsearch.com\/news\/monday-properties-nabs-two-nova-office-buildings\/\">two&nbsp;office properties in Northern Virginia<\/a>&nbsp;totaling more than 370,000 square feet. Dulles Metro Center, sold by a joint venture between Principal Real Estate Investors and The Pinkard Group, is located in Herndon, Va., while Cameron Run Office Park, acquired from The Meridian Group, is situated in Alexandria, Va.<\/p>\n<p><em>\u201cThis transaction is consistent with our thesis of adding value through operational expertise to assets in Northern Virginia, and furthers Monday Properties\u2019 commitment and belief in the long-term vision for Arlington,\u201d<\/em> Austin Freeman, Monday Properties\u2019 senior vice president, asset management, told <em>CPE<\/em>.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company purchased a 12-story office building in Arlington, Va., located within walking distance of the amenity-rich Shirlington Town Center.<\/p>\n","protected":false},"author":451,"featured_media":1004278091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,11,21742,21747,1615],"tags":[35824],"class_list":["post-1004278088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-midatlantic","category-latest","category-office","category-washington-dc","tag-monday-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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