Army and Navy Club Commands $37.4 M

WASHINGTON, DC-Ownership of the historic Army and Navy Club Building, standing since 1911 at 1627 Eye St., changes hands with Chicago-based Equity Office Properties Trust’s $37.4-million acquisition of the building from the Dutch Metal Workers Pension Fund. A 170,000-sf edifice that has undergone a series of renovations in its nearly one century of existence, the structure has been on the market since December of 2001.

Located in the District’s Farragut area, the building offers 104,000 sf of office space, reserving the remaining square footage for old club amenities such as residence rooms, as well as squash and racquetball courts, a sauna and steam baths, and a restaurant. It is 100% leased to tenants including the DC bureau of the New York Times and law firm Coudert Brothers, which occupies three floors.