Rockville-based Washington Real Estate Investment Trust acquired Monument II, a class A office building in Herndon, Va. for $78.2 million.
The 205,000-square foot, eight-story office building is 100 percent leased and features a five-level detached parking garage. The building was completed in 2000.
Monument II is part of a mixed-use development consisting of office space, retail, restaurants, hotels, health clubs and residences.
Washington Real Estate expects a first-year unleveraged yield of 6.4 percent on a cash basis from the property.
