WASHINGTON, DC—Last month we reported that a source told us Dweck Properties had found a buyer for a two-building office complex and the sales price would exceed $1,000 per square foot. The trade has closed confirming our report.
Jamestown LP announced it acquired America's Square, a 461,484-square foot complex located at 51 Louisiana Ave. NW and 300 New Jersey Ave. It didn't disclose pricing but the sale was $1083 per square foot, or $500 million.
Jamestown, owns an impressive collection of properties across the country, including Chelsea Market and One Times Square in New York City, Ponce City Market in Atlanta, and Ghirardelli Square in San Francisco.
In the Washington DC market it has acquired Georgetown Park, One Metro Center, 733 10th St.; the Georgetown Renaissance retail portfolio, the Madison Office Building and a two-acre development site in the Capitol Riverfront neighborhood Congressional Square.
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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.
