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Stream Buys Former Parkway Atrium Building for $21M

Dallas-based Stream Realty Partners is growing in the DC region with the acquisition of a 183k SF office building in Herndon last week from a private family trust.

The company closed on 381 Elden St, a LEED Gold building, formerly known as the Parkway Atrium, as well as an adjacent, 1.54-acre plot of land. It paid $21.1M combined for the two properties, but Stream managing partner Kyle Luby tells us they’re still hammering out details on which property will cost how much.

Stream has plans for extensive capital improvements aimed at improving the building’s curbside appeal and entrances.

“The entire interior of the building will be transformed into an exceptional meeting and event space that can utilized by tenants and will hopefully serve as an amenity to the entire surrounding market,” Kyle says.

381 Elden St has nearly 90k SF available that will be marketed to new private sector tenants. Stream will manage and lease its own building, it says.

 

By: Chris Feery
SOURCE: Bisnow

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