Executive Tower

WASHINGTON, DC–A source tells us that JBG Smith is selling the Executive Tower at 1399 New York Ave., NW, for $121 million, or $939 per square foot.

EXAN Capital, based in Miami, FL., is the buyer, our source tells us.

JGB Smith inherited Executive Tower from Vornado Realty Trust, which acquired the 128,886-square foot, 11-story building in 2011 for $107 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.