JGB SMITH Releases DC Office Building to Germany-Based Buyers
CBRE has supported the sale of a 269,000-square-foot office building located at 1900 N Street in Washington, DC. Germany-based Commerz Real AG purchased the property.
Tommy Cleaver, Stuart Kenny and Dan Grimes of CBRE represented the seller, JBG SMITH.
The building is 82% leased to organizations including Goodwin Proctor and Beverage & Diamond law firms as well as CBRE’s own Washington, DC office.
According to CBRE, the property is considered a top five trophy office asset in DC’s central business district with a highly sought-after environment that offered investors the opportunity to grow base yield by capitalizing on the “flight to quality” dynamics dominating the current office market. KPF-designed 1900 N features a triple-height lobby, a superior window line and top-flight amenity space.
“The completion of this transaction during such unpredictable times is evidence of global confidence in DC,” said Cleaver.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.