Boyd Watterson Continues D.C.-Area Buying Spree With $197M Ballston Deal
The building is part of Shooshan's 1.2M SF Founders Square development near the Ballston Metro station. Shooshan has been one of the leading developers in the neighborhood, also building the 2.25M SF Liberty Center complex.
The deal is at least the ninth D.C.-area acquisition in the past four years for Cleveland-based Boyd Watterson. The investor has bought one other building in Arlington, two buildings in NoMa, three in Southwest D.C., one in Herndon and one in Reston. Including this latest deal, the investments have totaled more than $1.4B.
Boyd Watterson's previous acquisition, the $206M purchase of Arlington's Sequoia Plaza in August, was the largest D.C.-area investment sales deal last quarter, according to Newmark's Q3 report. The region recorded $4.4B in total office investment sales during the 12 months ending Sept. 30, according to Newmark.