WASHINGTON, DC—So far we have heard of one final deal making it under the wire for 2015: 1015 18th St., NW, a source tell us, has traded for $39 million, or $379 per square foot.*
So add that to the $8 billion or so of investment sales that are expected to close for the area this year.
That figures is an estimate provided to GlobeSt.com by JLL's Bill Prutting Jr., a few weeks ago.
To recap, Prutting estimated that the District will register some $5 billion in office investment sales for 2015. Northern Virginia is expected to deliver $2.5 billion in office sales and Maryland should be able to count between $600 and $700 million in transactions.
All told, it will be the area's most active year since 2006, with or without 1015 18th St.
Correction: This story has been updated to reflect a new price for the property.
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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.
