WASHINGTON, DC—During the last week of 2015, we reported that a source told us that 1015 18th St., NW, had traded for $39 million, or $379 per square foot.
The buyer, as we now know, is Morristown, NJ-based Normandy Real Estate Partners, which announced it has acquired the 106,000-square foot Golden Triangle office, although it didn't reveal the price.
Normandy acquired it in a partnership with NTT Urban Development, the third partnership between the two companies and the first in which they teamed up to buy an asset in the District.
Donohoe Real Estate Services represented the seller in this direct transaction and will serve as the leasing agent.
Normandy is planning to renovate the building, which is expected to deliver this year.
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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.
