March 8, 2019

1700 Diagonal Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of 1700 Diagonal (the “Property”) in Alexandria, VA. The Property closed on March 8, 2019 and is comprised of an approximate 74,800 sf, 69% leased, Class A- seven-story office building with four floors of integrated structured parking (two above grade, two below grade). The investment plan for the Property is to lease-up the remaining vacant space and to potentially capture higher market rental rates, benefiting from its close proximity to Washington, D.C. and Amazon’s recently announced new headquarters in Crystal City, VA.

The Property is located directly across from the King Street Transit Center, Northern Virginia’s only three rail service location that features Metro Blue and Yellow Lines (offering direct access into Washington, D.C. in under 30 minutes as well as Ronald Reagan National Airport), Amtrak and Virginia Railway Express. Additionally, 1700 Diagonal is located approximately six miles south of Washington, D.C., within a three-mile drive and two transit stops from Amazon’s recently announced new headquarters in Crystal City, VA (“HQ2”), and approximately three miles from Reagan National Airport.

Atlantic Creek has offices in New York, NY and Palm Beach, FL and targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate, primarily located on the East and West Coasts of the U.S., Texas, and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.