999 E St. Part of $450M Portfolio Sale

WASHINGTON, DC-999 E St., NW is part of a $450 million to $500 million national multiple-asset portfolio acquisition underway by a venture between Princeton Holdings LLC and Bluestone Group. The Wall Street Journal reported the portfolio deal earlier this week but GlobeSt.com has learned exclusively that 999 E St. is part of the deal. A source tells us that the building is trading for $71.8 million, or $443 per square foot. However, we have been unable to independently confirm that price. 

The 162,038-square foot, nine-story office building has one tenant besides the street level retail–the Federal Election Commission. This fits with the WSJ’s description of the portfolio, namely that the portfolio’s largest tenant is the federal government. The Journal also cited office buildings in San Diego, CA and Lakewood, CO. UrbanAmerica Advisors LLC is the seller.