Barr Building Brings in $23M

WASHINGTON, DC-The Barr Building, an approximately 100,000-sf historic office property in the city’s Golden Triangle business area, has found a new home with a North Carolina-based private investor. KV Sun Holdings LP, which acquired the building in 1999 for $12.5 million, pocketed a respectable $22.5 million, or about $227 per-sf, from the transaction. District records list the property’s 2004 assessed value at nearly $15 million.

“Our client is delighted to be the new owner of this architecturally appealing and tremendously well-located property,” says Dek Potts of Advantis/GVA, the firm that represented the buyer in the deal. Eastdil Realty stood in for the seller. “The Barr Building’s historic appeal to small and medium sized tenants will only be enhanced once the planned lobby and common area improvements are completed.” The office facility is currently 83% occupied and is home to tenants such as the American Telemedicine Association, the Atlantic Council of the US, and a host of attorneys and physicians.