TYSONS CORNER, VA. – Transwestern today announces it brokered the disposition of a 1.8-acre site in the Spring Hill Station mixed-use project in Tysons Corner, Virginia. The tract is next to the new Silver Line Metro Rail station scheduled to open July 26. Transwestern’s Institutional Commercial Group, led by Executive Managing Director Gerry Trainor, represented the undisclosed seller in the transaction. The land was acquired for an undisclosed amount by GDM Spring Hill Station LLC, a joint venture between The Georgelas Group Cos., T-Rex Capital Group LLC and Dierman Realty Group LLC. GDM subsequently flipped a portion of the parcel to Greystar for a 34-story residential tower called Elan Tysons West. Transwestern was not involved in that transaction.
“Greystar’s development is part of the world-class Spring Hill Station project that will transform Tysons Corner into a walkable, green, 24/7, urban center in accordance with Fairfax County’s goals and objectives,” said Trainor.
Greystar’s multifamily tower will consist of 400 units and 6,500 square feet of first-floor retail space. First-class amenities will include a roof deck, pool, fitness center, Wi-Fi lounge, entertainment center, 24-hour concierge, wine cellar and outdoor lounge with grilling areas.
Upon build-out, Spring Hill Station will have up to 7.6 million square feet of office, retail, residential and hotel space, adjacent to the Spring Hill Metro station. Spring Hill Station was the demonstration project and the first redevelopment application the county approved. By 2050, Tysons Corner is projected to be home to up to 100,000 residents and 200,000 jobs.
Transwestern’s Institutional Commercial Group focuses on investment services throughout the Washington, D.C. region, providing clients with exceptional service and market knowledge. Over the past 24 months, the group’s transactions have totaled more than $2 billion in aggregate value. Their success is a direct result of detailed underwriting and keen understanding of the local, national and international investment communities. For more information on the Institutional Commercial Group, visit Transwestern-ICG.com or call Trainor at 202.775.7091.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has
34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.
ABOUT THE GEORGELAS GROUP
The Georgelas Group is a real estate development organization, managing from end-to-end the entire real estate development life cycle. The company has been developing high quality projects since 1964, when founder Col. John G. Georgelas built the first Georgelas home. Today, The Georgelas Group has expertise in the development and construction of Commercial, Residential, Institutional, Industrial, and transit oriented projects. In addition, the Georgelas Group also has extensive experience in Site Development, Zoning, Assemblages, optimization strategies and build to suit projects.
Founded in 1993, Greystar provides world-class service in the multifamily real estate business. Their innovative business model integrates the management, development and investment disciplines of the multifamily industry on international, regional and local levels. This unique approach and their commitment to hiring the very best multifamily professionals have resulted in record growth, making them one of the most respected and trusted multifamily real estate companies. The Greystar team is more than 10,000 team members strong and growing. For more information, please visit www.greystar.com