Done Deals: HFF Closes Sale of Downtown D.C. Office Building

Friday, May 2, 2008

HFF Closes Sale of Downtown D.C. Office Building

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of 1750 K Street NW, (above photo) a 152,470-square-foot office building in downtown Washington, D.C.

HFF senior managing directors Jim Meisel and Dek Potts (top left photo) and director Andrew Pulliam led the investment sales team that represented Bernstein Companies. Sumitomo Corporation of America purchased the property free and clear of debt for a total consideration of $76 million.

1750 K Street NW is 100% occupied by six tenants including the law firm of Wiley, Rein LP. The 12-story, mid-block office building is located three bl

ocks from the White House in the “Golden Triangle” Business Improvement District (BID) and walking distance to many upscale restaurants as well as high end retail.

The Farragut North and West Metrorail stations are very accessible providing access to Red and Orange/Blue lines.

“The Cl

ass A location and excellent tenancy of this property made this an extremely compelling investment opportunity,” said Meisel. “We had significant interest from multiple investor sources.”

Founded in 1933, The Bernstein Companies is a privately-owned real estate firm based in Washington, D.C. The company owns, manages, develops and invests in a variety of commercial and residential properties, with a focus on office buildings and hotels. Concentrating on the greater Washington, D.C., metro area, including Annapolis, Maryland, The Bernstein Companies also has extensive holdings throughout the mid-Atlantic region.

CONTACTS:

Laurie Fish McDowell

Associate Director HFF, Marketing

One Post Office Square, Suite 3500