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Smithsonian Acquires Southwest D.C. Office Space for $254M

The Smithsonian Institution has acquired the majority of Capital Gallery, a two-building office campus in Southwest D.C. to serve as its consolidated headquarters. The museum operator paid $253.7 million for the property.

The property, which is located at 600 Maryland Ave. SW, was acquired from an affiliate of Boston Properties in a deal that was recorded June 25 with the D.C. Recorder of Deeds. The acquisition includes all of Capital Gallery’s 10-story west tower and four stories of its eight-story east tower. The Smithsonian first laid out plans for the acquisition during a House committee meeting seven months ago to examine the Smithsonian’s spending plans.

The institution already leases more than 230,000 square feet at the property. Boston Properties will continue to manage the rest of the complex, including the garage, ground-floor retail and common areas.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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