WASHINGTON, DC-Boston-based AEW Capital Management LP and Washington, DC-based Quadrangle Development Corp. have purchased the National Press Building at 529 14th St. NW from Press Building LLC for an amount of $167.5 million. The building, which contains nearly 420,000 square feet of retail and office space, was sold for approximately $400 per square foot.
AEW bought the building in support of the AEW Core Property Trust (U.S.). Brokers from Cassidy of Cassidy Turley negotiated the deal on behalf of the seller. For the full story, go to Washington Business Journal .
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