JLL has arranged the $58.5 million leasehold sale of 1717 Rhode Island, a 157,050-square-foot boutique office building in downtown Washington, D.C.
Located on nearly half an acre, the property is adjacent to the historic Cathedral of St. Matthew the Apostle at the confluence of Rhode Island Avenue, Connecticut Avenue and M Street. The live-work-play area is nearby three Metrorail stations as well as Dupont and Logan Circles. Amenities at the property include private terraces on the upper floors, a fitness center, two-story lobby and a three-level parking garage. The building is currently 86% leased to a tenant roster that includes the East Coast hub of Uber, Steve Case’s Revolution, and The Case Foundation.
Jim Meisel, Andrew Weir, Matt Nicholson and Dave Baker of JLL represented the seller, BentallGreenOak, in the transaction. Tritower Financial Group acquired the asset.
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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