WASHINGTON, DC-MetLife and an institutionalinvestor has snapped up one of DC's largest office complexes for aprice a source has told GlobeSt.com that is slightly more than$730 million. The building is ConstitutionCenter, a 1.4-million-square foot office trophy thatrecently underwent a $250 million renovation that delivered thisyear. MetLife's 50-50 joint venture partner was advised byClarion Partners LLC's managing directorMarc DeLuca. DeLuca confirmed the buildingofficially traded this morning but declined to discuss the detailsof the transaction.

Constitution Center has been the focus of much drama—at leastwhat passes for drama in the DC area. In 2010, the Securities andExchange Commission announced it would lease roughly 900,000-squarefeet of space at Constitution Center, which is located at 400Seventh St. However, behind the scenes the $556 million dealquickly unraveled when the SEC determined that it would not need600,000-square feet after all. The agency's IG eventually took theSEC to task for the decision-making leading up the deal.

The building's owner David Nassif Associates,however, has since managed the fill the space, handing over afully-leased 10-story building to its new owners. Earlier thismonth, in fact, FD Stonewater Managing Director ofLeasing Robert Hines represented the then-owner ina new lease transaction totaling 372,299 square feet, in which theUnited States Federal Trade Commission will consolidate a number ofexisting offices. The balance of space will be filled by other yetto be formally identified federal agencies. That was the deal thatbrought Constitution Center to full occupancy.