WASHINGTON, DC–A source tells GlobeSt.com that One Thomas Circle, the 229,663-square foot office building located at the same address, is trading for $116.8 million or $508 per square foot.
Chicago-based LaSalle Investment is the buyer, according to the source. The company was not able to return an inquiry immediately from GlobeSt.com in time for publication. We will update this story if the company does comment.
The current owner of the building is a JV between GE Asset Management and Polinger Shannon & Luchs Co. The last time One Thomas Circle traded was in 2006 for $99.6 million.
LaSalle Investment owns five buildings in the District, including 2001 L St NW, which it purchased last year for $106 million.
One Thomas Circle has made a name for itself as a home for tech providers. Recently the startup Breather, a co-working space company, signed a lease in the building.
“We've had a number of tech tenants moving to One Thomas Circle in the last 18 months,” according to the prepared statement by Transwestern's Joe Michel, who along with college Scott Fetterolf, represented the building owners in that deal. Other tenants to join One Thomas Circle in the last 18 months include TrackMaven, FiscalNote and Perkins Eastman.
WASHINGTON, DC–A source tells GlobeSt.com that One Thomas Circle, the 229,663-square foot office building located at the same address, is trading for $116.8 million or $508 per square foot.
Chicago-based LaSalle Investment is the buyer, according to the source. The company was not able to return an inquiry immediately from GlobeSt.com in time for publication. We will update this story if the company does comment.
The current owner of the building is a JV between GE Asset Management and Polinger Shannon & Luchs Co. The last time One Thomas Circle traded was in 2006 for $99.6 million.
LaSalle Investment owns five buildings in the District, including 2001 L St NW, which it purchased last year for $106 million.
One Thomas Circle has made a name for itself as a home for tech providers. Recently the startup Breather, a co-working space company, signed a lease in the building.
“We've had a number of tech tenants moving to One Thomas Circle in the last 18 months,” according to the prepared statement by Transwestern's Joe Michel, who along with college Scott Fetterolf, represented the building owners in that deal. Other tenants to join One Thomas Circle in the last 18 months include TrackMaven, FiscalNote and Perkins Eastman.
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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.
