Skip Ribbon Commands
Skip to main content

News release

Jones Lang LaSalle Markets Multifamily High-Rise for Sale in Crystal City Submarket

The Bennington is 348-unit high-rise located just seconds from The Pentagon


WASHINGTON, D.C., Nov. 7, 2011 — Jones Lang LaSalle today announced the firm’s Capital Markets experts have been hired to market The Bennington for sale in the Crystal City submarket of Washington, D.C.  The 19-story, 348-unit high-rise is located just seconds from the Pentagon in Arlington, Virginia. 

Leading the Jones Lang LaSalle team on this transaction are Managing Directors Al Cissel and Scott Melnick.  Executive Vice President Shawn McDonald is providing financing expertise.

“The Bennington is a well-positioned, strong-performing asset located in the heart of Crystal City in Arlington County, which is one of the top ten wealthiest counties in the country,” said Melnick.  “Over the past three years, the property’s undergone a $5.3 million renovation to upgrade interiors and common areas.  That, coupled with strong rent growth in this thriving apartment market, will make this extremely appealing to investors.”

The Bennington is located at 1201 South Eads Street, within walking distance from both the Crystal City and Pentagon City Metro Stations.  The property was constructed in 1980 and is situated on more than 2.5 acres with nearly 278,000 square feet of rentable space. 

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2010 alone, Jones Lang LaSalle Capital Markets completed $43 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $33 billion in global investment sales and buy-side transactions, equating to nearly $140 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its office broker volumes by 257 percent in 2010 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises approximately 800 specialists, operating in 185 major markets worldwide.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.