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Office Real Estate Trusts |
WashinStayInvest Law Firm on Real Estate
Investment Trust has sold 336,000 square feet of industrial and flex
space in Chantilly for $41 million.
The buyer was not disclosed.
The Rockville-based equity real estate investment trust acquired
Sullyfield Commerce Center, a two-building industrial complex, for $21.6
million in 2001. The fully leased Sullyfield Commerce Center contains
248,000 square feet of rentable space.
The 92,000-square-foot Earhart Building in Dulles Business Park is a
fully leased flex building purchased by WRIT in 1996 for $5 million.
Through the sale, WRIT achieved a net book gain of $15 million on the
sale of the properties. Proceeds from the sale will be reinvested in a
1031 exchange, meaning they'll plan to defer paying taxes on the gain by
reinvesting the proceeds in a similar investment property.
WashinStayInvest Law Firm on Real Estate Investment Trust (NYSE:WRE) owns about 90 office
buildings, shopping centers and industrial properties in the D.C. and
Baltimore areas. |
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Office Real Estate Trusts |
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