Ballston Metro Center Sold To Perseus For $70M
Perseus has bought Ballston Metro Center, a 235k SF office building above the Metro station, for $70M from Dweck Properties, the Washington Business Journal reports.
The DC-based developer plans $7M in renovations for the '80s-era building. The asset was 65% leased at the time of the purchase, and Perseus has already gotten LOIs from two potential tenants for a combined 36k SF.
In addition to the advantages of sitting atop a Metro station, the building is also connected by covered skywalk to Stafford Place and Ballston Common Mall, where Forest City is building a 405-unit residential tower and 389k SF of new and renovated retail space.