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HFF, working on behalf of Lowe Enterprises, has announced the $118 million refinancing of Century Center I and II, located in Crystal City, Virginia, according to MarketWatch. The two-building, commercial real estate office complex has a lower level retail space of 626,004 square feet.
The center recently underwent $30 million worth of renovations, which improved the building systems and made the property more visible from the busy roadway, Crystal Drive, the media outlet reports.
"Century Center's renovation and repositioning, which included creating a retail promenade extending down Crystal Drive, demonstrates Lowe's commitment to the property and the Crystal City submarket, and has been well received by the market as evidenced by new retail tenants continuing to sign leases, positioning the property for long-term success," HHF managing director Cary Abod told the news source.
The buildings house big-name tenants such as Raytheon, GSA and Northrup Grumman. Additionally, the newly remodeled retail ground floor space is home to Buffalo Wild Wings, Seattle's Best and Pizza Authentica. The center is also close to the Crystal City Metro station, downtown Washington, D.C., and the Pentagon.
