Mills Building Breaks Away with $10M Financing Package

WASHINGTON,DC-Cassidy & Pinkard/iCap and Carr Real Estate Services Inc. pitch in to help arrange a $10 million floating rate loan for the 150,000-sf premier property at 1700 Pennsylvania Ave.

By Barbra Murray | October 20, 2003 at 01:01 AM

Situated in the Golden Triangle area of Foggy Bottom, the 10-story 1700 Pennsylvania Ave. locale has a solid tenant roster that includes law firms Ferris, Baker Watts Inc., Phillips & Barker, and King & Spalding, which renewed and expanded a lease on 42,000 sf in the class A building in the summer of 2002. Leasing rates for similar office properties on the block--such as 1730 and 1747 Pennsylvania Ave--range from $38 to $39.50 per sf, according to CarrAmerica records.

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