Cresa Represents America's Credit Unions in 30K-SF Arlington Building Sale
Cresa’s Gene Sachs, Jonathan Harms and Natalie Gosnell recently represented America’s Credit Unions (ACU) in the sale of the Portsmouth Building, a 30,000-square-foot, vacant office property at 3138 10th St. N in Arlington, Virginia.
The buyer, BRB Development Group, paid approximately $200 per square foot for the property, which it plans to demolish to make way for a self-storage facility.
The sale comes on the heels of the Credit Union National Association merger with the National Association of Federally-Insured Credit Unions to form ACU and the subsequent consolidation of the two entities at CUNA’s modern office space at 99 M St. SE in the city’s Navy Yard submarket.
“This transaction provided a great opportunity to unload the former NAFCU headquarters—an outdated property in a growing submarket—to a buyer eager to establish a presence in a prime location,” added Sachs, a managing principal with Cresa’s Washington, D.C. office.`