156,700-SF Trophy Office Hits the Market

WASHINGTON, DC-The 156,700-sf office tower at 1501 M St. has hit the market, just one year after ownership of the trophy property last changed hands. America’s Capital Partners, which acquired 1501 M St. from New York Life in 2004 for $47.4 million, has tapped real estate services firm Cassidy & Pinkard to find a buyer. According to District real estate records, the property has a current assessed value of approximately $35 million.

Developed in 1991, 1501 M St. sits on a corner parcel in the city’s central business district about five blocks from the White House. The 11-story structure, designed by the architectural firm of Hartman-Cox, also features a three-level underground parking facility and approximately 3,700 sf of ground-level retail, which is fully occupied by a deli.