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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.
- ◦Sale/Acquisition
