Piedmont Realty Trust has acquired a 189,000 square-foot office building in Arlington, Virginia, for USD 52.7 million. This property, located at 4075 Wilson Boulevard in the Ballston submarket, was sold by a joint venture comprising FarmView Ventures, GreenBarn Investment Group, and Rithm Capital. The transaction, which occurred in September 2026, represents a significant increase in value, as the joint venture had acquired the building in September 2024 for USD 27.6 million.
Following its acquisition in 2024, the joint venture invested approximately USD 6 million in renovations, filled the retail spaces, and secured ten new office leases. At the time of its sale in 2024, occupancy stood at 52 per cent. Currently, the building is 83 per cent leased and has a weighted average lease term of 5.5 years.
John Wolf, CEO of FarmView Ventures, described the sale as the first 'round trip' institutional sale of an office building in the region following the COVID market reset. The acquisition by Piedmont Realty Trust, an Atlanta-based Real Estate Investment Trust, highlights the appeal of the Ballston submarket, which serves as a hub for defence and cybersecurity tenants.
The SEC filing for the transaction emphasises that 4075 Wilson is located just two blocks from the Defense Advanced Research Projects Agency and the Office of Naval Research. Current tenants of the building include defence contractor Systems Planning & Analysis, cybersecurity firm KnowBe4, and software company Nalej. Energy company Argan relocated its headquarters to this building last year. Ground-floor retail tenants include Sweetgreen, Van Leeuwen Ice Cream, Grazie Nonna, and Pinnacle Bank.
Piedmont is steadily expanding its portfolio in the Ballston submarket, already owning the office properties 3100 Clarendon Boulevard, 4250 North Fairfax Drive, and Arlington Gateway at 901 North Glebe Road there. According to John Wolf, Piedmont now owns nearly 25 per cent of the entire submarket. He noted that the joint venture's operators recognised the leasing fundamentals, in contrast to the capital market headlines and pricing discussions.
