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For-Sale Building Hopes to Replicate Starbucks Deal

WASHINGTON, DC—There isn't an asking price for 1512-1528 Connecticut Ave but it is using the $1,672 per square foot sale of Starbucks across the street as a guide, JLL's Bill Prutting Jr. tells GlobeSt.com's Erika Morphy.

By Erika Morphy | Updated on June 03, 2014

WASHINGTON, DC—The sale earlier this year of the Starbucks-anchored retail building at 1501 Connecticut Ave. NW, for $1,672 per square foot, or $16.2 million, understandably made an impression on the local real estate community.

Now, the building located across the street, 1512-1528 Connecticut Ave., has gone on the market and while there isn’t an asking price for the property, the buyer and its broker, PNC Bank and JLL respectively, are using the Starbucks trade as a guide.

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