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Washington DC & Mid-Atlantic  + Office  |  July 10, 2019
David Cohen
By: David Cohen

Washington D.C. Office Building Trades for $119M

Real estate services company Akridge sold 1701 Rhode Island, a 103,908-square-foot office building in Washington DC for $119 million.

Akridge and partner Alcion Ventures first acquired the property, the former YMCA National Capital building, in 2016. After securing historic preservation and zoning approvals, Akridge embarked on a redevelopment project to transform the former YMCA into a trophy office building. Co-working company WeWork signed a full-building lease in February 2019.

Collins Ege, Sean McDermott, Nicholas Pappas, and Nick Carpenter of Eastdil Secured represented Akridge and Alcion in the transaction. The buyer was Exan Capital.

For comments, questions or concerns, please contact David Cohen

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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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