Warner BuildingWASHINGTON, DC–Late last year GlobeSt.com reported that JBG Smith had the Warner Building under contract. That transaction has closed with the 613,000-square foot office at 1299 Pennsylvania Ave., NW., trading for $376.5 million, or $606 per square foot, according to the Washington Business Journal.
The REIT sold the property to CBRE Global Investors. It last traded in October 2010 for $445 million. The building is almost fully occupied now but is slated to lose Baker Botts LLP when it moves to Anthem Row in 2020.
JBG Smith is rapidly shedding assets as it prepares for its all-in push to develop National Landing.
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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.
