Newmark Knight Frank: DC Pricing Has Peaked

900 16th St., NW

WASHINGTON, DC–Year-to-date there have been about $1.6 billion in office sales for the District, according to Newmark Knight Frank’s second quarter analysis. The area, in other words, remains attractive to investors especially foreign ones.

It writes:

Japanese firm UNIZO Holdings Company’s acquisition of two assets totaling 436,959 square feet at 1325 G Street NW and 1341 G Street NW for $259 million, or $593/SF, represented the largest transaction during the second quarter. The second-largest transaction was the sale of 600 New Hampshire Avenue NW in the West End submarket. The 309,837-square foot building sold to Washington REIT for $135 million, or $436/SF. Lincoln Property Group acquired the 35,000-square foot building at 615-619 14th Street NW for $37.3 million, or $1,065/SF, with an additional $19.8 million on top of the building purchase price to include adjacent vacant land parcels. Lincoln Property plans to redevelop the site into an 11-story office building.