Greenwich Group Arranges $16.5 Million Sale of 1500 Westbranch Drive – a 5.86-Acre Re-Development Site in Tysons, Virginia
Former government leased building site slated for residential development
TYSONS, VA – Greenwich Group (“Greenwich”) has announced that it sold on behalf of its client, a 5.86-acre un-entitled redevelopment site to a Texas based residential developer.
Greenwich was the exclusive advisor on behalf of the owner, TH Real Estate, an affiliate of Nuveen, (the investment management arm of TIAA) in successfully securing a sale to the developer for $16.5 million.
The building was part of an office building portfolio TH Real Estate had purchased in 2004 from the former West*Group who had also been advised by Greenwich. Until recently the entire building was leased to a Government Agency, which had been the sole occupant since it was developed.
The Greenwich team representing the owner was led by Greenwich’s Managing Partner, Peter Witham. Mr. Witham says “1500 Westbranch Drive produced a positive outcome. Both Greenwich as Advisor and TH Real Estate as Seller worked closely to navigate and overcome a number of challenges during the marketing process to maximize value and insure execution”.
ABOUT THE GREENWICH GROUP:
Greenwich Group is a leading real estate capital advisory firm headquartered in New York, with offices in Washington, DC, San Francisco and Los Angeles. Its main focus centers around all aspects of real estate investment capital. The firm offers four main business lines: Capital Markets (Debt & Equity Placement), Investment Banking and Structured Finance, Investment Sales and Development Services.
For more information about Greenwich:
Director of Marketing and Public Relations
Phone: (703) 525-8300 Ext. 7