The class B building is currently occupied by tenants thatinclude the General Services Administration, the American Forestryand Paper Association, and Ogilvy Public Relations. Cassidy &Pinkard is the leasing agent for the building. Grubb & Elliswill be the manager.

[IMGCAP(2)]Marc DeLuca, director at ING Clarion, describes thebuilding as a solid investment "in a market with a diverse,resilient economy, relatively low unemployment, and good long termprospects for job growth." Among the submarket's fundamentals thatthe firm likes are new office construction that is expected to peakin 2009; an overall vacancy rate for office space that shouldremain in the 5% range; rent growth that is expected to average3.9% annually through 2012; and the presence of the federalgovernment.

With a 96% occupancy rate, Tonya Ginter, director of Researchand Marketing at GVA Advantis tells GlobeSt.com that this trade isreflective of a relatively new trend in DC: investment sales ofpredominately leased buildings, compared to the value-add playsmany investors like prior to the credit crunch.