GreenOak and MRP Realty bought Lion Building, a 154,384 sq ft office building in Washington, DC, from JBG Smith for $65m. The buyers paid just over $421 per sq ft. The Lion Building is located in the central business district’s Golden Triangle, a 43-block subsection of the city that houses more than 3,000 businesses, 550 retail shops and restaurants and eight luxury hotels with more than 1,800 rooms.The eight-story building is two blocks from the Dupont Circle metro station. Holliday Fenoglio Fowler arranged $47.6m in acquisition financing on behalf of the new owners to complete the deal.
“The Lion Building is ideally situated in a vibrant retail and restaurant corridor with multi-modal transportation options,” said Lauren Bosso, vice president of acquisitions and investments at MRP Realty. “MRP looks forward to commencing a robust spec-suite program and select renovations to attract value-conscious tenants seeking amenities for their employees.”
