The 219,000-sf office building, located near Dupont Circle, is fully leased, with tenants including American Insurance Association, American Textile Manufacturers, and Prudential Securities. The building, constructed in 1986 and refurbished in 1996, features a lobby fronting Connecticut Avenue, six-story atrium, ground-floor retail and an underground parking garage.

"The Washington, DC market continues to experience real growth, and we think this property is well positioned locally with a solid address, and nationally as a productive addition to our investment portfolio," says Fremont Properties executive vice president David M. Wall. The building will undergo a minor renovation to its public areas, mainly to enhance its curb appeal, according to Wall.

Fremont Properties is also building Two Washingtonian Center, in Gaithersburg, MD, a 285,000-sf build-to-suit office building and garage on a 5-acre site in the Washingtonian development.