WASHINGTON, DC-On behalf of an institutional client, Invesco Real Estate has purchased The Presidential Building, a trophy office building located at 1111 Pennsylvania Ave. NW from 1111 Pennsylvania Holdings LLC for a total amount of $220 million or about $665 per square foot.
The 14-story office tower leased to Morgan, Lewis & Bockius LLP measures 331,000 square feet. The property is situated next to the Evening Star Building. The transaction was handled by Eastdil Secured LLC. For the full story, go to Washington Business Journal.
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