Relying on the assistance of Bill Prutting Jr. and John Norjen of CB Richard Ellis, Ruben Capital Management sold the building at 555 11th St. NW to investor Ralph Dweck; Granite Partners also assisted in the sale. Designed by architectural firm Hartman-Cox, the property incorporates the facades of nine of 19 historic 19th and 20th century buildings that occupied the land prior to the development. The 12-story structure features a 22,000-sf of ground-level retail segment, an underground eight-screen movie theater and a three-level parking facility to accommodate approximately 320 vehicles. Lincoln Square is just a few blocks from the White House and a short stroll from all five lines of the city's Metro system. The tenant base includes law firm Latham & Watkins, which moved into 184,000 sf on the top seven floors soon after the building's completion.

"Lincoln Square was certainly deserving of the record pricing we were able to achieve," Norjen says. "Given its quality and location, and the continued strong demand for prime properties in Downtown Washington, we were able to attract strong interest from numerous sources of capital despite the large deal size." Ruben Capital Management division Lawrence Ruben Co., which developed the property, will continue as manager of the building.