Dupont Circle Building Brings in $55M

The JV was represented by Cassidy & Pinkard's Bill Collins, Paul Collins and Drew Flood. Now the new owner has turned to Cassidy & Pinkard, calling on the real estate services team to head up leasing and management activities at the property, which is presently leased to maximum capacity.

One of several buildings surrounding the park-like cement and grass nexus at the core of the Dupont Circle neighborhood, 11 Dupont Circle sits at the point of convergence of three roads--Connecticut Avenue, Massachusetts Avenue and New Hampshire. While the structure was originally developed in 1974, it has had major renovations over the last six years. Among the names on 11 Dupont Circle's tenant roster are the National Women's Law Center, which occupies about 16,000 sf under a lease that expires in mid-2105; the National Park Foundation, which has a hold on nearly 15,500 sf through 2011; and WorldSpace Inc. and Washington Lawyers' Committee for Civil Rights and Urban Affairs, both of which have office spaces totaling nearly 15,000 sf. But 11 Dupont Circle has more than just a full office tenant base; the building includes a 12,000-sf ground-level retail segment that is 100% occupied by Books-A-Million Inc., as well as a dual-level underground parking facility.

11 Dupont Circle has a current assessed value of $34.3 million. Brickman president Bruce Brickman says the firm is "very bullish on the strength of the Washington real estate market."