Circle Management Co. recently sold the office, retail and garage portions of 2301 M St. NW in Washington, D.C., to Chromium LLC for $25.15 million, or about $405 per square foot.
The fourth-quarter 2007 deal included 62,108 square feet of commercial space, primarily office with some retail. The building includes four floors of residential space owned by a cooperative, which were not part of the sale. The residential co-op leases the air rights from the owner of the commercial building.
John Duffy and Paul DeFilippes from Summit Commercial Real Estate represented the buyer, while Nick Demas of Thema Real Estate handled the deal for the seller.
Built in 1981, the property sits on a little less than a half-acre in the West End district. The office space was vacant at the time of sale and is currently being offered for lease by Summit Commercial Real Estate.
Please refer to CoStar COMPS #1428546 for additional information on this transaction.