AREA Property Partners and Adler Group have bought most of a group of 18 office and warehouse properties in the Washington area in a $350 million deal. The seller is Washington Real Estate Investment Trust (WRIT) from Rockville, Maryland. The properties comprise a total of 3.1 million square feet and are being sold in five separate transactions, three of which are complete.
The final two will be done in the next two months. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented WRIT on the sale, adds Citybizlist Real Estate. The properties are let to corporations including GE Healthcare, MedImmune, Raytheon and L-3 Communications.
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