$14.2 Million Buys Net-Leased Asset in Washington, DC

705 Edgewood Street NE. Washington, DC

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