Wednesday, July 17, 2019

JLL closes sale and financing of One Liberty Center in Arlington, VA

Jim Meisel

WASHINGTON, DC – JLL announces that it has closed the sale and financing of One Liberty Center, a Class A office asset totaling 319,327 square feet in Arlington, Virginia.

JLL represented the seller, Carr Properties, and procured the buyer, USAA Real Estate.  

Additionally, working on behalf of the buyer, JLL placed the 10-year, fixed-rate acquisition loan with Northwestern Mutual.

One Liberty Center is located at 875 North Randolph Street within the Liberty Square master-planned, mixed-use development in the epicenter of the Ballston submarket.  

Cary Abod
The property is surrounded by numerous transformative developments such as Ballston Quarter and Ballston Exchange that will deliver more than 500,000 square feet of retail and entertainment options, as well as more than 2,000 new residential units in additional projects.  

One Liberty Center is 99% leased to the U.S. Government (GSA).  

The 13-story property is an ISC Level IV-secured facility featuring cutting edge innovative technologies, including direct dark fiber to the Pentagon, 100% connectivity throughout the building and SCIF spaces authorized to hold the highest levels of government meetings.     

The JLL Capital Markets team representing the seller was led by senior managing directors Jim Meisel and Andrew Weir, senior director Matthew Nicholson, director David Baker and executive managing director Stephen Conley. 

JLL’s Capital Markets team representing the borrower/buyer was led by managing director Cary Abod and senior director Rob Carey.

Andrew Weir
 For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About Carr Properties

Carr Properties is a privately held real estate investment trust focused on creating value for its shareholders through the ownership, acquisition, and development of high-quality office properties in Washington, D.C. and Boston, MA.

 The company currently owns a portfolio of 15 commercial office properties totaling approximately 4.0 Million SF as well as a pipeline of five development 
projects that include: 
Matthew Nicholson

The Wilson and Elm Development in Bethesda, MD; Signal House in the Union Market area of Washington, D.C.; and One Congress in Boston, MA. Upon completion, these projects will add 2.4 Million SF of trophy-quality office space to the company’s portfolio.

 The company is continuing to expand its portfolio through strategic investments in the Washington, D.C. and Boston, MA areas.

About USAA Real Estate
USAA Real Estate provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. 

Its portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit

David Baker
About Northwestern Mutual

Northwestern Mutual has been helping families and businesses achieve financial security for more than 160 years.  Through a distinctive, whole-picture planning approach, Northwestern Mutual empowers its clients to make the most of every single day and plan for important moments in their future. 

 Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience to help its clients navigate their financial lives every day. 

 With $272.2 billion in assets, $28.5 billion in revenues, and $1.8 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.5 million people who rely on them for life, disability income and long-term care insurance, annuities, and brokerage and advisory services.  

Stephen Conley
The company manages $128 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses.  

Northwestern Mutual ranks 104 on the 2018 FORTUNE 500 and is recognized by FORTUNE® as one of the “World’s Most Admired” life insurance companies in 2019.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. 

Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services.

Robert 'Rob' Carey

 Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 


 Jim Meisel, JLL Senior Managing Director
Phone: +202 533 2500

 Cary Abod, JLL Managing Director
Phone: +202 533 2500

Kristen Murphy
Phone: +617 338 0990

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