The building and the over one-half-acre parcel it occupies along the Potomac River near the Kennedy Center for the Performing Arts, have a current assessed near the value of $44.1 million. Cassidy & Pinkard reportedly secured the seller for Trizec.

Built in 1968, the Watergate Office Building, designed by architect Luigi Moretti, was renovated in 1994 and again six years later. Located in the West End, the 11-story structure has about 60,000 sf of retail space and is part of a complex that consists of the Watergate South, Watergate East and Watergate West residential buildings at 700 New Hampshire Ave., 2500 Virginia Ave and 2700 Virginia Ave. There is also another office building at 600 New Hampshire and a former hotel turned co-op at 2650 Virginia Ave. Tenants include the Kuwait Information Office, the Saudi Arabian Cultural Mission and the Hispanic Council for Reform and Educational Options.

Trizec had been marketing space in the building for $28.50 to $34.50 per sf. The sale is, reportedly, scheduled to close within the next week or two. Trizec does not comment on pending transactions, and BentleyForbes did not return calls by deadline.