Search
 

Two-Building Portfolio Downtown Sells for $48M

WASHINGTON, DC-Two Class B buildings accounting for 215,000 sf of space sell for $48.125 million in a package deal to AEW Capital Management, acting on behalf of Lucent Technologies Inc. Master Pension Trust.

By Barbra Murray | Updated on June 05, 2002

WASHINGTON, DC-Lend Lease Real Estate Investments Inc. hands over two downtown office properties accounting for 215,000 sf to AEW Capital Management for $48.125 million. Lend Lease acted on behalf of owner California State Teachers’ Retirement System, while AEW stood in for buyer Lucent Technologies Inc. Master Pension Trust.

The Class B structures at 1120 19th St. and 1990 M St., which offer approximately 109,000 sf and 105,000 sf respectively, were sold as a portfolio, with no separate prices indicated for each building. The former has a 2003 assessed value of $23 million and the latter is valued at $23.5 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.