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New Boston Taps CBRE for 111 K St.

WASHINGTON, DC—CBRE will market the space to non-profits at an asking rate of $47 to $51 per square foot, full service, Mark Klug tells GlobeSt.com's Erika Morphy.

By Erika Morphy | Updated on May 27, 2014

WASHINGTON, DC—New Boston Fund has tapped CBRE to market office space still available in 111 K St., NE. The target constituency will be small to medium-sized non-profits. Asking rates, CBRE’s Mark Klug tells GlobeSt.com, are between $47 to $51 per square foot. More specifically, they are $47 to $49 per square foot net of electric for the 4th through 8th floor suites and $51 per square foot net of electric for the 11th floor suites.

In 2012, New Boston Fund acquired a 67,000-square foot stake in the building from J Street Properties. J Street had delivered the 11-story, approximate 90,000-square foot building in the NoMA submarket with the plan of selling office condos and while it did sell a few floors as office condos, the majority of the building was still vacant when the stake traded to New Boston.

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