The developers of Towers Crescent are considering selling after anchor tenant MicroStrategy Inc. vowed to add 300 jobs to its headquarters in the 1 million-square-foot-plus Tysons office complex.
Cushman & Wakefield Inc. (NYSE: CWK) recently began marketing the four-building project on behalf of its owners, a joint venture of Quadrangle Development and AEW Capital Management.
The offering comes nearly a decade after Quadrangle delivered 1850 Towers Crescent Plaza, where MicroStrategy (Nasdaq: MSTR) first signed on in 2010. The 13-story, 295,000-square-foot trophy office building was the fourth and final building following the completion of 8000, 8010 and 8020 Towers Crescent Drive.
The offering, which also includes an additional land site fronting Fashion Boulevard, could easily exceed the roughly $360 million assessed value of the existing buildings.
Quadrangle, AEW and Cushman & Wakefield did not return calls seeking comment.
The project, adjacent to the popular Tysons Corner Center…Read the full story from the Washington Business Journal.