Metro News Release

For immediate release: September 10, 2009

Metro to sell Arlington bus garage property

Developer plans to build federal office building on mixed-use development site

Metro has given preliminary approval to sell its Arlington bus garage property to a developer that plans to lease the site to the Defense Advanced Research Projects Agency, the central research and development office for the U.S. Department of Defense.

Metro’s Board of Directors gave preliminary approval today (September 10) to sell the property at 675 North Randolph Street in Arlington, Va. As part of the agreement, Metro will sell 4.12 acres to Ashton Park Associates, LLC, for about $25 million.

The Shooshan Company is developing the property as part of Founders Square, a 1.2 million-square-foot, mixed-use development project in Arlington’s Ballston neighborhood, on behalf of Ashton Park Associates, LLC. The first phase of construction will be a 355,530-square-foot, 13-story, secure office building. Construction is expected to begin in December 2009 and be completed in early 2012.

Metro’s Board of Directors is expected to give final approval of the sale at its September 24 meeting.

In March, about 100 Metrobuses operating out of the Arlington bus garage moved to a new bus facility at West Ox Road in Fairfax County.

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Media contact for this news release: Angela Gates or Lisa Farbstein at 202-962-1051.
For all other inquiries, please call customer service at 202-637-7000.

News release issued at 10:26 am, September 10, 2009.