WashREIT has sold two Washington, D.C., area office assets for a combined $106.5 million.
The sales consisted of Monument II, a class A office building with more than 200,000 square feet in Herndon, Va., which was acquired by an affiliate of Westbrook Partners, and 1227 25th St. NW, a 136,540-square-foot office asset in Washington, D.C., which was acquired by an undisclosed purchaser.
“These sales further strengthen our balance sheet ahead of the post-vaccine recovery and align with our strategy to reduce our exposure to office assets, allowing us to de-risk our portfolio and improve our ability to create long-term shareholder value,” said Paul McDermott, president and CEO of WashREIT. “We are pleased with the execution of these sales, which is a testament to the quality of our office tenants and the resilience of the D.C. metro economy.”
Monument II is located at 12950 Worldgate Drive along the Dulles Toll Road (Route 267) in the Reston-Herndon submarke
