WASHINGTON, DC-PRI Inc. has sold an office building spanning47,569 square feet at 1718 Connecticut Ave. NW for a price of $14.4million or roughly $303 per square foot. The buyer is a groupheaded by Dave Schaeffer, CEO of Cogent Communications Group Inc.The sale is a part of a proposed 1031 exchange for a 100% leasedwarehouse situated in Hagerstown, Maryland. Schaeffer's group willundertake approximately $4.5 million of current debt on thebuilding.
McBride Real Estate Services Inc. brokered the sale. For thefull story, go to Washington Business Journal .
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