WASHINGTON, DC-1718 Connecticut Ave., NW, traded hands for $14.4 million this week as part of a 1031 exchange sale. Richard McBride and Roy Ayers of McBride Real Estate Services represented the both seller, local investor Nicholas Papadopoulos of PRI Inc., and the buyer, an entity operated by telecom executive Dave Schaeffer.

Office buildings, especially on Connecticut Ave., are a rare asset to hold in a 1031, McBride tells Globest.com. “Usually a triple net lease property is what is on the back end,” he says. The building’s location and full roster of tenants, though, made it easier to find a buyer.

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