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Constitution Square Parcel Trades for $122M

WASHINGTON, DC-Constitution Square, a seven-acre parcel in the NoMa area of the District, sells in a $121.9-million transaction. The new ownership is planning a mixed-use project for the parcel that is scheduled to get underway early next year.

By Barbra Murray | Updated on March 13, 2006

WASHINGTON, DC-A joint venture involving affiliates of Walton Street Capital LLC and StonebridgeCarras LLC has acquired ownership of a seven-acre slice of land known as Constitution Square for $121.9 million. Akridge was the seller.

The firm had tapped Cassidy & Pinkard to orchestrate the disposition. Akridge had acquired the site from First and M Investing Co. in 2003.

Located at 100M St. NE, Constitution Square is in Washington, DC’s NoMa Corridor, which will soon be home to the new 400,000-sf Bureau of Alcohol, Tobacco, Firearms and Explosives headquarters. Under Akridge’s tenure, the site had originally been slated to become a two-million-sf office and retail complex called Capital Square, with more recent plans for the renamed Constitution Square encompassing an 11-structure commercial compound.

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