Normandy Real Estate Partners, one of the largest real estate owners and operators in the Boston to Washington corridor, today announced that it has completed the sale of Quincy Crossing to Guardian Life Insurance Company for $55,500,000.

Quincy Crossing is a 110,900 square foot Class A office building prominently located in the Rosslyn Ballston Corridor. Normandy will remain property manager for Guardian Life. Cassidy & Pinkard Colliers represented Normandy in the transaction.
 
Normandy acquired Quincy Crossing as part of its $540 million acquisition of a portfolio of 13 buildings on the east coast from Morgan Stanley Real Estate in connection with its $1.9 billion acquisition of Glenborough Realty Trust in November 2006.
 
"Our investment in Quincy Crossing reflects Normandy's strategy of acquiring high quality assets where we can add value through proactive management and leasing," said Gavin Evans, Principal of Normandy. "Having completed our business plan for this asset, we added significant value, enabling us to sell the property at a strong return for our investors."
 
Completed in 2002, Quincy Crossing is currently 100% leased and is anchored by the GSA (United States Department of the Interior). The building is two blocks from the Ballston Metro Station and Ballston Common Mall, and is within immediate proximity to downtown Washington DC, the Pentagon and Ronald Reagan National Airport. Located directly across from the future Founders Square development, the site for the proposed DARPA relocation, Quincy Crossing is ideally situated to benefit from increasing contractor demand to be proximate to this and other major federal agencies.
 
About Normandy Real Estate Partners 
Normandy Real Estate Partners was founded in 2002 as a privately owned, fully integrated real estate investment and management company based in Morristown, NJ. Today, the firm has over 75 dedicated employees and has amassed a multi-billion dollar diversified portfolio of commercial, residential and hotel assets throughout the Boston-Washington D.C. corridor. For more information, please visit www.normandyrealty.com.
 About Cassidy & Pinkard Colliers 
Cassidy & Pinkard Colliers ( www.cassidypinkard.com) is the largest locally owned commercial real estate services company in the Washington metropolitan region. In 2007, Cassidy & Pinkard Colliers completed over $4.2 billion in commercial sales, finance and lease transactions, $75 million in project management, and at year-end, managed over 13 million square feet in commercial and retail properties. Cassidy & Pinkard Colliers was recognized in June 2007 by the Washington Business Journal as one of the top five "Best Places to Work in Greater Washington" in the Large Companies with Local Headquarters category. An independently owned and operated business founded in 1981, the company is a member firm of Colliers International, a global affiliation of independently owned and operated commercial real estate firms.