Building at 1900 M St. Sells to California's Rreef Funds

WASHINGTON, DC-The eight-story retail and office building at 1900 M St. has sold for an undisclosed amount to San Francisco, California-based real estate services firm Rreef Funds. Located in a high-traffic area surrounded by medical offices and other multi-story office structures, the 26-year old building was renovated last year by owner Acquiport Four Corp for $8.2 million.

Occupying part of the 101,385 sf of office space are the American Society of Hematology, which leases 14,400 sf, and BNFL-Westonhouse, which leases 14,000 sf. Both companies have been in the building since 1999. Rumors Restaurant and Sterling Optical are among the establishments occupying 1900 M. St.’s 10,565 sf of retail space. Cassidy & Pinkard has served as the property’s leasing agent, although the firm had no direct involvement in the sale. The company confirms, however, that the new owner will not be in need of a leasing agent. “Really, there isn’t any leasing to be done at this time,” explains Cassidy & Pinkard’s Mark Sullivan. “The last tenant moved in in September, but we had finished the leasing last March or April. It went on the market a couple of months after that.” Industry experts speculate that the building is worth around $28 million.