Dupont Circle Assets Trade for $500 Per/SF

WASHINGTON, DC-New York City-based private equity company Meritage Properties has picked up two small buildings in Dupont Circle in a deal size that in earlier times it might have deemed too insignificant. But the company’s heightened interest in infill, metro-served mixed-use properties prompted it to give the transaction a second look, CBRE First Vice President Marc Rampulla tells GlobeSt.com. It wound up liking what it saw and the fact that the properties are Dupont Circle assets just added to their allure, he says.

The-multi-tenant retail and office buildings total 18,614 square feet and are located at 2029 P St., NW and 2122 P St., NW. Grosvenor Americas was the seller of the buildings, which traded for $9.25 million, or approximately $500 per square foot.