Terms of the deal have not been disclosed, but acting on behalf of the buyer, NorthMarq Capital arranged the financing for the purchase of the Colorado Building, which has a FY 2005 assessed value of $34 million.

Located just blocks from the White House in the city's central business district, the Colorado has been a local fixture for quite some time, having been originally developed by Colorado gold and silver mining baron Thomas F. Walsh back in 1903. The historic 11-story property has been kept up to date, courtesy of major renovations and upgrades in 1988, during which time two floors were added, and again in 2002.

Tenants at 1341 G St. include the Community Transportation Association of America, financial printer and business solutions provider Bowne & Co. Inc., information and computer technology consulting firm Infotech Strategies, and the US General Services Administration, which has a lease on an 11,000-sf space for a federal government office until the end of 2012.