Tavaco Properties Buys DMV Office for $29M
about 5 hours ago
Tavaco Properties has expanded its Greater Washington portfolio by acquiring three office properties at discounted prices, including a 272,300-square-foot building in Falls Church, Virginia, Twinbrook Plaza in Rockville, Maryland, and Ballston Station in Arlington, Virginia. These acquisitions total nearly $65 million and reflect Tavaco's strategy of investing in underperforming office assets amid a gradual return-to-office trend. Meanwhile, the seller, James Campbell Company, is shifting focus from office to industrial properties.