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| 705 Edgewood Street NE. Washington, DC |
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| Robert J. Filley |
WASHINGTON,
DC – Marcus & Millichap (NYSE: MMI), a leading commercial real estate
investment services firm with offices throughout the United States and Canada,
has arranged the sale of 705 Edgewood
Street NE, a 72,209-square-foot, two-story commercial building in
Washington, D.C. The asset sold for $14,200,000.
Robert J. Filley, a senior director of Marcus &
Millichap’s National Office and Industrial Properties Group, Josh Feldman, associate vice president
investments, and associate Benjamin W.
Wilson, all in Marcus & Millichap’s Washington, D.C. office, had the
exclusive listing to market the property on behalf of the seller, 705 Edgewood
Associates LLC.
The property
was purchased by an affiliate of Mosaic Realty Partners.
“The
building’s proximity to the Rhode Island Avenue Metro station and the planned
redevelopment of the Rhode Island Avenue shopping center, which is on the
building’s south border, drove demand for this net-leased asset,” says
Filley.
Situated on
a 1.48-acre parcel, the building was 65 percent occupied by the William E.
Doar, Jr. Public Charter School for the Performing Arts at the time of the
sale. There is 25,374 square feet of additional industrial/flex space available
for lease.
For a complete copy of the company’s
news release, please contact:
Gina Relva,
Public Relations Manager
(925)
953-1716
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