Republic Property Trust recently announced the acquisition of WillowWood I & II, two class A office buildings totaling approximately 250,000 rentable square feet in Fairfax, Va.
The total value of the transaction was $66 million.
SMII Fairfax LLC sold the buildings, which are part of a four-building office complex known as WillowWood Plaza. Republic Property Trust owns the other two buildings in the park, WillowWood III & IV.
Completed in 1988, WillowWood I & II are five-story brick buildings. The buildings share a central landscaped common plaza area with WillowWood III & IV, complete with a fountain and outdoor seating.
More than 90 percent of the space was leased at the time of sale to tenants including Tetra Tech Inc., Qwest and the U.S. General Services Administration’s Federal Technology Service.
Republic Property Trust’s portfolio now consists of 12 class A office properties, representing 23 institutional grade office buildings totaling approximately 2.2 million square feet, in Greater Washington, D.C.