"While the current low interest rates are creating a high-priced competitive market for office buildings in Washington, DC, strategically-located Class B product like 1000 Vermont Ave. remains a solid investment," Phillips Realty president and CEO Stephen Shaw explains. "The building's below-market rental rates provide potential income growth for the new ownership." The Bernstein Cos.' Consortium paid $16 million for the building in 2001. Tenants at 1000 Vermont include Americans for the Arts, the Association of Equipment Manufacturers and the Food and Drug Law Institute.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.

Capital Markets
Office
Washington, DC