The eight-story tower at 2100 M St.--which sits in the District's East End, between the Dupont Circle and Foggy Bottom areas--has much more to offer in the way of assets than its prime location on a corner lot in the city's central business district. Developed in 1969 by the Charles E. Smith Cos., 2100 M St. has undergone a series of renovations that have gradually left it with its present designation as a premiere office property. The structure features about 291,500 sf of leasable office space, 7,000 sf of storage area, and a two and one-half level subterranean parking facility that can accommodate up to 225 vehicles. In addition, at a current occupancy level of 96%, 2100 M St. is nearly fully leased to a diverse set of tenants under mostly long-term leases. The tenant roster includes the Urban Institute in a 150,000-sf space, and George Washington University, which keeps a 42,500-sf space.

Speaking to GlobeSt.com, the Bernstein Cos. Adam Bernstein explains why the timing was right to exchange the property for a profit. "We owned the building for three years, we renewed a major tenant, the Urban Institute, we did minor renovations on the lobby and first floor, and the market allowed us to sell at a number that is extremely attractive." The Urban Institute committed to staying in its space, which accounts for nearly 46% of the structure, until May 2014.