Located at 3101 Wilson Blvd., the nine-story Hartford Building delivered in 2003 and is now fully leased. Tenants include architecture firm DMJM, defense contractor Stanley Associates, and Georgetown University. Ground floor retailers include TD Bank and Sette Bello, a Georgetown Entertainment Group restaurant. Multi-Employer Property Trust was advised by Kennedy Associates Real Estate Counsel and represented by Warren Dahlstrom and Brian Dawson of Cushman & Wakefield in the transaction.
This is the first acquisition by MRP in two years, principal Bob Murphy tells GlobeSt.com. The company is viewing it as a five-to-10-year hold for its portfolio, so it is not as worried about valuations possibly falling further, he says. "It's a great candidate for buy and hold--it's a relatively new building, fully leased in a great location with great credit-worthy tenants."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
