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Private Investor Buys 1875 K Street for $113.1M

Downtown Trophy Building Spans 187,624 SF
March 28, 2005
A private investor purchased 1875 K Street NW for $113.1 million as part of a 1031 exchange. As a trophy-class office building located in the central business district submarket of downtown Washington, DC, it was able to change ownership at a price of $603 per square foot.

The 12-story, 187,624-square-foot property was built in 2002 and was 100% leased at the time of sale. Eight tenants occupy the building, highlighted by the law firm of Wilkie, Farr & Gallagher and The Corporate Executive Board, one of the area’s largest business consultants. Brokers at Cassidy & Pinkard successfully arranged this sale and explained "the building's superior design, exceptional tenancy and proximity to numerous amenities account for its top value."

Bill Collins, Paul Collins, and Drew Flood of Cassidy & Pinkard represented the seller, Nineteenth & K Ventures LLC (comprised of affiliates of Quadrangle Development Corp. and Potomac Investment Properties Inc).
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