Grubb Properties Enters DC Area With Office Purchase

Argon Plaza. Photo by Google StreetView

FAIR LAKES, VA–Charlotte, NC-based Grubb Properties has acquired a nearly 275,000-square-foot office building here, marking its first investment in the Washington DC area. The building is called Argon Plaza and its traded for $38.8 million, or approximately $141 per square foot. It acquired the building from C-III Asset Management, with HFF and NAIGlobal handling the deal.

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Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She’s a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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