Marcus Partners Buys Jefferson Building
The boutique office building is located along “Restaurant Row” in the CBD.
WASHINGTON, DC–Boston-based Marcus Partners has acquired a CBD boutique office for an undisclosed price. The Jefferson Building, located at at 1225 19th St., NW, was sold by Invesco Real Estate.
Home to The Palm, the building is situated along Restaurant Row, two blocks from Dupont Circle.
HFF represented the seller as well as arranged acquisition financing through a balance sheet lender.
Among the 73,168-square-foot building’s claim to fame: it is the only building in the CBD with full floor top floor availability that is under 10,000 square feet with four sides of glass. Most recently renovated in 2016, the Jefferson Building also features average floorplates of 9,300 square feet and parking for 64 vehicles.
The eight-story property is 87% leased to 12 tenants, including SNI/SI Networks, International Center for Alcohol Policies, Relman, Dane & Colfax and London & Mead/Andrew J. Kline.
Marcus Partners has become increasingly active in the metro DC market in recent years, opening a regional office a year ago led by Andrew Dolinsky. This latest purchase follows the commercial real estate firm’s November 2017 acquisition of 3170 Fairview Park, a 275,000 square foot office complex in Falls Church, VA with a Fortune 100 company as the anchor tenant. “We are continuing to grow our presence in the DC community and look forward to expanding our portfolio here over the years to come,” Dolinsky says.
The HFF investment advisory team representing the seller included Jim Meisel, Andrew Weir, Stephen Conley, Matt Nicholson and Dave Baker.
HFF’s debt placement team representing the borrower consisted of Dan McIntyre and Jay Graham.