$105M Buys 275,000-SF Navy Yard Office Building

WASHINGTON, DC-In a transaction involving a reported $105 million, the 275,000-sf office tower at 80 M St. has come under new ownership. Atlanta’s Wells Real Estate Investment Trust II Inc. forked over the millions to add the class A office facility to its portfolio. Wells REIT II’s Eastern Region senior vice president of acquisitions Jeff Gilder and vice president of acquisitions Keith Willby spearheaded the transaction on the buyer’s end, while Holliday Fenoglio Fowler’s Stephen Conley, John Duffy, and James Kraft represented the unnamed seller.

Developed by Spaulding & Slye in 2001, the seven-story structure at 80 M St. sits near the Washington Navy Yard and Anacostia River in the Southeast Waterfront section of the District. The property is fully occupied by a stellar list of government contractors including BAE Systems Applied Technologies and Northrop Grumman, two of the building’s largest tenants, as well as AT&T and LT Communications. Another upside to the tenancy is the fact that 85% of the leases will not expire until 2011. In addition to its office space, the property also features a fitness center and on-site deli.