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After A Busy Q3 in DC, Piedmont REIT Finds Buyer for Independence Square Two

WASHINGTON, DC--The REIT is selling the office building to a JV of investors for $385.6 million, according to a source.

By Erika Morphy | Updated on October 31, 2016
Two Independence Square. Photo by Piedmont Office REIT Two Independence Square. Photo by Piedmont Office REIT

WASHINGTON, DC–By any measure, the Atlanta-based Piedmont Office Realty Trust had a busy quarter for its Washington DC-based holdings. We will get to those transactions in a moment.

The big news, though, is the possibility that the REIT has found a buyer for Two Independence Square, a 605,897-square-foot building at 300 E St. SW, that is leased by NASA until August 2028 following its renewal in 2011.

Cushman & Wakefield began marketing the property earlier this year and a source tells us that it has found a buyer: a JV among several investors including an investment fund in South Korea, Kiwoom Securities and Meritz Securities, both of which are also based in South Korea.

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