WASHINGTON, DC—Talk on the street is that a CBD office has traded for $127 million or $472 per square feet. A source tells GlobeSt.com that the MRP Realty-Rockpoint Group JV is buying the building from Miller Global Properties.
The building is 97% occupied by such tenants as District of Columbia Public Service Commission, Institute of International Finance and Thomson Reuters Corp.
The last time it traded was in February 2008 for $130 million.
Another CBD office trade that flew under the radar, perhaps because of the building's size, is 1915 Eye St., NW, a 20,425-square foot building, that sold for $8.7 million to Empire Leasing. Newmark Grubb Knight Frank brokered the sale of the eight story, fully-occupied CBD building.
Meanwhile the commercial real estate community is keeping on an eye on a handful of pending blockbuster deals that, rumor has it, are in the works.
These include the expected $440 million purchase of 1801 K St., NW, by Mirae Asset Financial Group and Zuckerman Gravely's purchase of 1625 K. St., NW, from Shorenstein Properties for a rumored $46.3 million. Also 11 Dupont Circle is said to have found a buyer.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
