The acquisition marks Grosvenor's second buy for 2002 in the District's office building market. Toward the end of the third quarter, the company purchased the 243,000-sf Southern Railway Building at 15th and K streets for $83.6 million. "With our two acquisitions this year in Washington, DC, we have positioned ourselves as an active buyer," says Grosvenor senior vice president Andrew Galbraith. "We feel positive about additional potential acquisition opportunities in 2003, not only in Washington, DC but also in strong suburban submarkets such as Arlington, Alexandria, and Bethesda."
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