In taking over ownership of the class A building at 12350 Jefferson Ave., Washington, DC-based Columbia assumed an existing debt of $8.5 million and paid the remaining $6 million with proceeds from its recent initial public offering. According to real estate records for the city, the building and the five-acre parcel it occupies have a total current assessed value of $11.7 million.
Patrick Henry is a four-story structure that was developed in 1989 off I-64. Currently, the building is 92% occupied. Tenants include a subsidiary of Northrop Grumman Corp. and law firm Patten Wornom Hatten & Diamondstein. Drucker & Falk LLC had been marketing space in the building on behalf of the seller for $21 per sf.
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