New York-based Spitzer Enterprises has sold an office building located in Washington D.C.’s CBD to Carr Properties. The 418,527 sqf office building at 1615 L Street, NW traded for $229 million or just over $547 per sqf. The building was renovated in 2004 and features a full service, on-site concierge, restaurant, tenant-only fitness center and a 263 space underground parking garage. Located just four blocks from the White House, its tenants include Pew Research Center, FleishmanHillard, Ketchum, and Porter Novelli. Cushman & Wakefield represented the seller during the transaction.
“This is another strategic acquisition by Carr Properties, north of L Street in the CBD,” said Eric Berkman Executive Director Cushman & Wakefield “This area has become increasingly popular with Millennials that can walk and bike to work. The building also has non-traditional common areas that are conducive to a collaborative work environment.”
