WASHINGTON, DC-American Realty Advisors has acquired the interest in the 230,000-square-foot office building at 1130 Connecticut Ave. in Washington, DC from Greenstreet Real Estate Partners LP. With this deal, Penzance and American Realty have formed a new joint venture for the Class A office tower.
Penzance and Greenstreet co-owned the building since 2004, when they purchased the property together for $66.3 million. The 12-story office tower comprises 215,000 square feet of office space and 15,000 square feet of retail space. For the full story, go to Commercial Property Executive .
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