X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The Barr Building, an approximately 100,000-sf historic office property in the city’s Golden Triangle business area, has found a new home with a North Carolina-based private investor. KV Sun Holdings LP, which acquired the building in 1999 for $12.5 million, pocketed a respectable $22.5 million, or about $227 per-sf, from the transaction. District records list the property’s 2004 assessed value at nearly $15 million.

“Our client is delighted to be the new owner of this architecturally appealing and tremendously well-located property,” says Dek Potts of Advantis/GVA, the firm that represented the buyer in the deal. Eastdil Realty stood in for the seller. “The Barr Building’s historic appeal to small and medium sized tenants will only be enhanced once the planned lobby and common area improvements are completed.” The office facility is currently 83% occupied and is home to tenants such as the American Telemedicine Association, the Atlantic Council of the US, and a host of attorneys and physicians.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.