WASHINGTON, DC–TA Realty is acquiring a CBD office building located at 1101 14th St., NW, according to a source. The 13-story, 155,374-square foot property, which has street level retail, is trading for $61.8 million, or $397 per square foot. American Realty Advisors is the seller.
Requests for comment from TA Realty and American Realty were not returned in time for publication.
Earlier this year, TAP Realty sold some of its holdings in the Washington DC area as part of its larger 45-asset portfolio sale to Brookfield-managed real estate funds for $854.5 million. The portfolio consisted of a mix of both industrial and office assets aggregating 8.6 million square feet. Besides Washington, DC, the holdings were also located in Los Angeles, Dallas and Chicago.
Since then the company's transactions have been largely one off deals. In the previous month it acquired the Long Lake Distribution Center in Roseville, MI for close to $19 million; it also sold two office buildings in South Florida for $13 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
Already have an account? Sign In Now
*May exclude premium content© 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.
