WASHINGTON, DC-Malvern, Pennsylvania-based Liberty Property Trust has bought a 12-story office building in downtown Washington, DC. The company has purchased the office building at 1100 17th St. NW for $50 million.
Glenborough LLC, an affiliate of Morgan Stanley Real Estate, has sold the 146,472-square-foot building for $340 per square foot. The property was previously sold in 2004 for $37.5 million. Liberty has plans to redevelop the property in the future. Eastdil Secured LLC brokered the sale. For the full story, go to Washington Business Journal .
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