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FCP Sells Georgetown Office for $50M

WASHINGTON, DC-The one-time class B office building is now fetching rental rates in excess of $40 per sf after a series of capital improvements.

By Erika Morphy | Updated on October 12, 2007

WASHINGTON, DC-Federal Capital Partners and Angelo, Gordon & Co. have sold one of FCP’s first investments: the Flour Mill, an office building located at 1000 Potomac St, NW, to an undisclosed buyer. The amount of the sale was over $50 million, according to FCP.

A 125,000-sf, eight-story office building originally built in 1980, the Flour Mill sits between the Potomac River and the C&O Canal on a full city block in the Georgetown submarket. Federal Capital Partners was represented by Eastdil Secured’s Washington, DC office.

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