Watergate Office Property Reels in $108M

WASHINGTON, DC-Nothing brings in the big bucks like a metro-area office property, as is evidenced by the recent $108-million sale of the premiere office structure at 600 New Hampshire Ave.

Real estate services concern Jones Lang LaSalle helped arrange the sale to DGB Enterprises on behalf of seller LaSalle Investment Management, Income and Growth Fund, which brought the property into its portfolio in 1999. “The purchaser rightly determined that this was an opportunity to own one of the most valuable pieces of real estate in what can be argued to be the best real estate market in the United States and maybe the world,” notes Jones Lang LaSalle senior vice president John Kevill.