TYSONS CORNER, Virginia, November 5, 2019, / PRNewswire / – Rubenstein Partners, LP (including its subsidiaries “Rubenstein”), a real estate investment advisor who focuses vertically on value-added office construction opportunities, and his partner in joint venture Griffith Properties The female property investment firm completed the sale of Centerstone to Tysons, a six-story office building at 1550 Westbranch Drive in the Tysons Corner submarket in Northern Virginia.
The sale follows an announcement in early 2019 that Centerstone in Tysons was fully utilized by a 150,000-square-meter lease on the property. Rubenstein and Griffith have also completed a comprehensive capital improvement program that turned the property into a space that meets the needs of modern tenants.
An important thought
Rubenstein and Griffith are pleased to announce the successful sale of Center Stone on the Tysons property,” said Read Mortimer, executive vice president of Rubenstein Partners. “Our renewal and service packages aim to reposition the asset in the different types of work experience that modern tenants are looking for in this submarket.
This MyWegmansConnect strategic business plan has finally allowed us to stand out from other companies in the region and lead in the long term. We are satisfied with the result of this transaction, which allowed us to demonstrate our value-added real estate skills and our investment experience.
“We are excited about the performance of MyWegmansConnect at Tysons,” said Marci G. Loeber, general manager of Griffith Properties. “The association has successfully implemented the repositioning strategy to make the property highly marketable while at the same time investigating the lack of large blocks in the submarket. Our ability to be patient and responsive was a key factor in our success on this project.