Built in 1989, 1620 L Street is a 12-story, 164,079-sf, class Boffice that is 97% occupied. John Buck plans to reposition thebuilding to class A status through a capital improvement programthat includes upgrades and repairs to the garage, façade, lobby andelevators. Existing tenants include the U.S. Bureau of LandManagement, MetLife, Cresa Partners, the National Assoc. ofIndependent Schools and Liberty Mutual.

Cassidy & Pinkard Colliers recently won the account toprovide leasing and property management services for the building;Bill Grillo and Laurie McMahon will oversee the property managementand Mark Sullivan, Darian LeBlanc, and Phillip Thomas will handlemarketing and leasing. HFF's Stephen Conley, Andrew Weir and DanielMcIntyre represented the seller; the company also securedacquisition financing for the deal from New York City-based HypoReal Estate Capital Corp. HFF did not return a call to GlobeSt.comin time for deadline.

DC is feeling the pinch from the credit crunch, Tonya Ginter,director of research and marketing for GVA Advantis, tellsGlobeSt.com. She points to newly released figures by GVA Advantisthat show total office sales volume in Q3 registering $427.9million, a sharp drop from Q2's $1.5 billion sales volume in theDistrict. Nonetheless, the CBD and neighboring East End submarketsare still doing well, she says. "Investors, if they are going tobuy in the District they will want a DC address and buildings inthe CBD and East End retain their value even during an economicslowdown."