Done Deals: JLL closes approximately $104.6 million sale of 950 L’Enfant Plaza in Washington, D.C.

Tuesday, September 24, 2019

JLL closes approximately $104.6 million sale of 950 L’Enfant Plaza in Washington, D.C.

950 L’Enfant Plaza, designed by I.M. Pei, is 315,726-square-foot office building overlooking the Southwest Waterfront in Washington, D.C.

Matt Nicholson

WASHINGTON, D.C. – JLL announced it has closed the approximately $104.6 million sale of 950 L’Enfant Plaza, a 315,726-square-foot office building overlooking the Southwest Waterfront in Washington, D.C.

JLL marketed the property on behalf of the seller, Normandy Real Estate Partners.

Designed by world-renowned architect I.M. Pei, 950 L’Enfant Plaza is a nine-story office building that is currently 86% leased to four GSA tenants.

The property is situated within the larger 2.5 million-square-foot L’Enfant Plaza mixed-use complex that is also home to the International Spy Museum, the Hilton Washington D.C. National Mall and more than 120,000 square feet of retail.

Jim Meisel

As the southernmost building in the complex, 950 L’Enfant overlooks the Southwest Waterfront with unobstructed views of Hain’s Point, Ronald Reagan National Airport, National Landing and District Wharf, a transformative 3.2 million-square-foot development.

Additionally, 950 L’Enfant Plaza has direct connectivity to the L’Enfant Plaza Metrorail Station, offering tenants access to five of the six Metrorail lines, and is just two blocks from the Virginia Railway Express Station, linking the property to the Virginia suburbs via two rail lines.

The JLL Capital Markets team representing the seller was led by Matt Nicholson, Jim Meisel, Andrew Weir, Stephen Conley, and Dave Baker.

Andrew Weir

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Stephen Conley

About Normandy Real Estate Partners

Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years.

The firm is a vertically-integrated investment and operating platform with a total of 120 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting.

Normandy’s management platform is focused on two complementary investment strategies: i) value-add: a series of closed-end, fully-discretionary investment funds, backed by some of the world’s most prestigious institutional investors; and ii) core-plus: a series of separately-managed accounts for domestic and foreign institutional investors.