Deals Race to the Finish Line in DC

WASHINGTON, DC-Jones Lang LaSalle says that DC office investment sales will total somewhere between $5.4 billion to $5.6 billion. If word on the street is any indication, the final result will be closer to the latter. The end of the year is usually a race to close business, but buyers and sellers seem to be in particular hurry for 2012 for some reason.

Cushman & Wakefield’s Eric Berkman, who just brokered the 400 Army-Navy Dr. building sale in Arlington, VA, tells GlobeSt.com that he has seven deals he is trying to close worth in the aggregate some $250 million. ARA’s Drew White, who finalized the Archstone Charter Oak trade, reports that he has four closings worth $150 million. JLL’s Jim Molloy reports a deal in the hopper as well. Ditto Cassidy Turley.