With an address right in the Golden Triangle area of the city's central business district, 1750 K St. was built in 1970 and today, boasts an occupancy level of 89%. The 12-story, class B structure is home to the likes of the American Council for Capital Formation, the Industrial Truck Association, and trademark and copyright services firm Thomson & Thomson. Law firm Wiley Rein & Fielding LLP--which renewed its lease earlier this year for a 10-year term and expanded its occupancy to nearly 110,000 sf--leads the tenant roster. The structure also features nearly 10,000 sf of fully-leased ground-level retail, as well as a three-story underground parking facility.
Meisel tells GlobeSt.com that the marketing process brought out many investors who showed a strong interest in the property, which Advantis marketed un-priced. The final sale price of about $310 per sf is well over the $289.63 average cost per-sf for class B office properties in the District this year, according to Advantis's Mid-Year 2004 Office Report.
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