Jones Lang LaSalle Incorporated : Multi-housing development site near Arlington, VA sold for $19M

WASHINGTON D.C., January 7, 2021 - JLL Capital Markets announced today that it has closed the $19 million sale of a multi-housing development site primed for 220 units and located at 2025 Clarendon Blvd. ('2025 Clarendon') in the greater Arlington, Virginia area.

JLL worked on behalf of the seller, Carr Properties, to complete the sale to the buyer, Greystar Real Estate Partners.

2025 Clarendon totals 24,980-square-feet and is located at the intersection of Clarendon Blvd. and Courthouse Rd., which is just steps away from the Courthouse Metro Station, allowing access to all of Northern Virginia. The property is also positioned within the Rosslyn-Ballston ('R-B') Corridor, one of the most sought-after live-work-play-learn neighborhoods, with the Clarendon-Courthouse area specifically touted as the area's retail and entertainment epicenter with various bar, restaurant, shopping and nightlife options. Additionally, the property is proximate to 35 million square feet of office space and five million square feet of retail, consisting of shopping, hotels and more.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Jim Meisel, Managing Directors Walter Coker, Matt Nicholson and Brian Crivella and Director Robert Jenkins.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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