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Shorenstein Purchases Asset for $35M

WASHINGTON, DC-Shorenstein Properties takes title to the 108,085-sf office property for $35 million. GE Capital Real Estate was the seller.

By Erika Morphy | Updated on June 27, 2006

WASHINGTON, DC-Shorenstein Properties has acquired the Commonwealth Building, a 108,085-sf office building located at 1625 K St. for $35 million, according to industry sources. Grubb & Ellis represented the seller, GE Capital Real Estate. This is the San Francisco-based Shorenstein’s fifth major acquisition in the District.

According to a spokesperson, Shorenstein is continuing to seek out additional investments in the city and nearby suburbs. “The Washington, DC market continues to show positive growth from a real estate investment perspective, especially in the office sector,” says Douglas Shorenstein, chairman and CEO of Shorenstein Properties.

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