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1201 Wilson BLVD, Arlington...

WeWork Leases 83294 Square Feet At 1201 Wilson Blvd Arlington From Landlord JBG Smith
LEASEDMixed-use

WeWork Leases 83294 Square Feet At 1201 Wilson Blvd Arlington From Landlord JBG Smith

1201 Wilson BLVD, Arlington, VA, 22209

Building Size

83,294 SF

Asset Type

Mixed-use

Closing

Dec 21, 2018

AI

The property asset involved in this lease transaction is located at 1201 Wilson BLVD, Arlington, VA, 22209. WeWork has signed an 83,294-square-foot lease for office space at CEB Tower at Central Place in Rosslyn. The mixed-use tower spans 31 stories and includes retail and dining space alongside an outdoor public plaza. The property was delivered earlier this year and is now 93 percent leased.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 83,294
  • Address: 1201 Wilson BLVD, Arlington, VA, 22209
  • Market: Arlington
  • Landlord: JBG Smith
  • Tenant: WeWork
  • Landlord's Representatives: Anna Faktorow (CBRE), Caroline Bour (CBRE), Jill Goubeaux (CBRE)
  • Tenant's Brokers: Gregory Lubar (JLL), Andy O’Brien (JLL), Greg Lubar (JLL)

The lease transaction involved key representatives from both sides. JBG Smith was represented by Jill Goubeaux, Terry Reiley, Caroline Bour, and Anna Faktorow from CBRE. On the other side, WeWork was represented by Gregory Lubar, Andy O’Brien, and Zach Boroson from JLL. WeWork is expected to occupy the 25th through 28th floors of the building and plans to open its space in the second quarter of 2019.

Players

Zach Boroson

JLL

Broker

3 deals

Broker
JBG Smith
JBG SmithBrokerage
JBG Smith
JBG SmithLandlord
WeWork
WeWorkTenant

Arlington Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93