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Equity Commonwealth Sells DC Office Building for $27.5M
Equity Commonwealth has completed the sale of 1250 H Street, a 196,000-square-foot office property located in Washington, D.C., for $27.5 million.
The Chicago-based real estate investment trust (REIT) was once led by late billionaire real estate investor Sam Zell. The REIT had previously announced plans to wind down after pressure from activist investors to return cash to shareholders.
Equity Commonwealth is currently winding down its operations and liquidating its remaining office assets. In addition to the H Street property in D.C., the REIT also had assets at 17th Street Plaza in Denver, Bridgepoint Square and Capitol Tower, both of which are in Austin, Texas. Equity Commonwealth will distribute proceeds from the office sales as they are executed.
1250 H is a Clan 11-story office building located in the East End submarket of D.C. that features a newly constructed conference center and fitness facility, rooftop terrace, and a 3-level subterranean parking garage.
