Relying on the assistance of Advantis Real Estate Services Co.,Penzance Properties sold the 99,700-sf office. Dek Potts and JimMeisel were the sole brokers.
The building is 90% occupied with a tenant roster that includeshotel interior design firm Forrest Perkins, Georgetown Universityand WBDC Broadcasting. The property last traded in 2003 for $17.3million. "This investment historically has been a steady performer,and the fact that the new owner also owns the adjacent propertywill further enhance the future possibilities and synergies," Pottssays.
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