WASHINGTON, DC-The Center for Global Development is exercising its option to buy 33,500-square feet at 2055 L St., NW. The building, for all intents, is now sold out as the remaining floor, the sixth, is now under a letter of intent with a deal expected to go firm within two weeks, Doug Olson, principal of Monument tells GlobeSt.com. "It is safe to say that 2055 L is fully sold out with the exception of one floor, which is contractually committed subject to due diligence."

2055 L St. is a 240,000-square foot building owned and occupied by Verizon until December 2010 when the company sold a condominium interest in the top three floors and 2,700 square feet of ground floor retail to Monument. Verizon retained the bottom four floors for its own use, primarily to house such equipment as switches. Monument then began a major renovation of the building, including the addition of a new facade and new retail storefront. This delivered in December 2011. Monument manages the entire property and controls the common areas, including the main lobby, garage and elevators.

This January, the National Restaurant Association exercised its option to buy a floor at the building, paying $23 million for a 60,855-square foot office condo. That price reflected the addition of an eighth floor, whose construction costs clocked in at about $350 per square feet, Monument told GlobeSt.com in an earlier interview. Darby declined to discuss pricing for this recent sale. Ben Plaisted of Studley represented CGD in that transaction.

One reason companies were interested in this space is the building's large floor plate sizes, Olson says, which are about 34,000-square feet. It's a corner building, glass on three sides and we renovated the building. That, plus the attractive floor plate sizes, is what made it so successful."