Washington REIT has signed a $250 million contract to buy the Arlington Tower office building in Arlington, VA. The 398,000 square foot Class A asset underwent a $16m renovation over the past five years to install a new fitness center with lockers, and to update onsite retail amenities, the main lobby and the five-level underground parking. Totaling 19 stories, notable tenants include B. Riley FBR, Raytheon/BBN Technologies, Promontory Interfinancial Network, Pepco, the National Electrical Manufacturers Association, and Graham Holdings Company. Washington REIT is acquiring the asset off-market and expects to close in the first quarter of 2018.
