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Carr Properties Acquires DC Office Building for Redevelopment
Carr Properties has acquired 2121 Virginia Avenue NW, a prime site in Washington, D.C.’s Foggy Bottom neighborhood.
Carr will redevelop the vacant nine-story Class B office property, formerly owned by the Pan American Health Organization, into a 320-unit luxury multifamily community. The redevelopment will include the preservation of the existing below-grade garage.
“Our acquisition of 2121 Virginia Avenue NW continues Carr’s strategic expansion into residential development and our ongoing investment in Washington, D.C.,” said Oliver Carr, Chief Executive Officer of Carr Properties. Savills‘ Parker Lange, Vernon Knarr and Julie Rayfield represented the seller on the transaction.
Located steps from George Washington University, the Kennedy Center, and the State Department, 2121 Virginia Avenue sits at the nexus of the District’s educational, cultural, and employment centers.
The 2121 Virginia Avenue redevelopment is the latest addition to Carr’s growing portfolio of office-to-residential redevelopment projects, including active developments such as 425 Montgomery Street in Alexandria and 3033 Wilson in Arlington.
