K Street Office Brings in $242 Per SF

WASHINGTON, DC-A European client of Binswanger International has acquired the 65,300-sf office building at 1411 K St. NW for $15.8 million. The 14-story structure was developed in 1959, and has since undergone several renovations, the last one having taken place in 2004.

Dek Potts and Jim Meisel of Advantis Real Estate Services Co.’s Advantis/GVA advised seller 1411 K Street Holdings–a partnership involving New York-based Meritage Properties and Gaithersburg, MD’s Buchanan Partners. The property secured $242 per-sf for the office. The partnership had acquired the site just two years for $10 million. Binswanger was self represented.