Real estate firm Akridge owns the remaining 5% interest in thefully occupied facility. According to District records, theproperty has a current assessed value of $33 million.
Prudential, which relied on Holliday Fenoglio Fowler to marketthe site and close the deal, had owned its majority interest in theproperty since June 2003. "We saw an opportunity to sell our stakeand make a good return for our investors, so we took theopportunity," a spokeswoman for Prudential parent companyPrudential Financial Inc. tells GlobeSt.com.
Developed in 1980, the 12-story structure also features afitness facility and three levels of underground parking space. Thebuilding's tenant roster includes the Joint Center for Politicaland Economic Studies, the National Institute of Building Sciencesand Scripps Howard News Service.
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