One Independence Square
WASHINGTON, DC—Piedmont Office Realty Trust has sold One Independence Square, located at 250 E. St., SW for $170 million, or $508 per square foot. The 9-story, 334,000-square foot office building is currently 94% leased to multiple governmental tenants. Originally constructed in 1991, the property underwent a major renovation in 2013.
Saban Real Estate, the real estate arm of Saban Capital Group was the buyer. “250 E St. is a great addition to our recent acquisition at 425 I St., NW, also in Washington DC,” said Bowen Hsu, Managing Director for Saban Real Estate.
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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.
