Skanska sells office building in Virginia, USA, for USD 90 M, about SEK 585 M

7/18/2014 8:00 AM CET
Press release

Skanska sells the office property at 1776 Wilson Boulevard in Virginia, USA for USD 90 M, about SEK 585 M. The buyer is Invesco Advisers, Inc. and the transaction will be recorded by Skanska USA Commercial Development in the third quarter of 2014.

1776 Virginia

Skanska acquired the site in May 2010, and self-financed 100 percent of the five-story, Class A project, which was completed in November 2012. 1776 Wilson Boulevard was the first commercial office building in Arlington, Virginia to achieve LEED Platinum under the most current version of the U.S. Green Building Council’s Core & Shell certification program.

The building features 13,000 square meters of highly sustainable office and retail space, a fitness center, and a green roof terrace accessible to all office tenants. 1776 Wilson Boulevard is 90 percent leased. Including Skanska, current tenants are LMO Advertising, National Association of Chain Drug Stores, U.S. Civil Research & Development Foundation, Black & Veatch Corporation, Pier 1 Imports, and 100 Montaditos.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were SEK 43.5 billion.