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Science Organization Buys New Home for $19M

WASHINGTON, DC-The Society for Neuroscience acquires a new 84,000-sf office building at 1121 14th St. NW from developer DRI Partners Inc. for about $19.4 million.

By Barbra Murray | Updated on March 27, 2006

WASHINGTON, DC-The newly developed office structure at 1121 14th St. has gotten a new owner, the Society for Neuroscience. It is also now the lead tenant in the building. The nonprofit science organization acquired the property from developer DRI Partners Inc. for nearly $19.4 million, according to District real estate records.

Trip Howell, regional managing director for Jones Lang LaSalle, which represented DRI, tells GlobeSt.com that SFN stepped up to the plate as a buyer while DRI was developing the building as a build-to-suit or build-to-lease. Trammell Crow represented SFN. Located a stone’s throw from Franklin Park and several blocks from the White House, 1121 14th St. is an 11-story structure that was conceived by the architectural firm of Envision Design as an environmentally friendly property.

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