Search
 

183,000-SF Office Building Gets New Owner

WASHINGTON, DC-The class A office building at 1801 Pennsylvania Ave. finds a new owner in Pembroke Real Estate. The 183,000-sf structure last traded in 2001 in a $44-million deal.

By Barbra Murray | Updated on February 01, 2006

WASHINGTON, DC-Boston-based Fidelity Investments’ Pembroke Real Estate has acquired the 183,000-sf office building at 1801 Pennsylvania Ave. The Mark Winkler Co. was the seller. The sale of the building was part of Winkler’s disposition of its entire real estate portfolio in several transactions–some still pending–for an aggregate $2.3 billion.

The sale price was not disclosed. The property at 1801 Pennsylvania Ave., which has a proposed 2006 assessed value of about $60 million, last traded in 2001 in a $44-million deal. Pembroke relied on internal representation, while Winkler was represented by Goldman Sachs.

Developed in 1991, 1801 Pennsylvania occupies a half-acre corner parcel adjacent to the headquarters of the World Bank and just two blocks from the White House. The building features a structured parking facility, as well as 3,600 sf of ground-level retail space that is fully occupied by Corner Bakery. Law firm WilmerHale is the lead office tenant, having signed a 20-year lease in 2003 for 89,000 sf and the option to expand.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.