The building, which has been repositioned to Class A sinceAdvance's acquisition of it in 1998, is now 97% leased. Advancespent $2.7 million in capital improvements on the 137,000-sf,two-story building.
The deal also means Advance has now leased up some 98% of its DCportfolio.
"Overall, the Washington DC portfolio has proven to be a highlyfavorable investment for Advance Realty Group," David Fisher,senior vice president and regional managing director of Advance'sDC region, says in a statement.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
