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| 1325 and 1341 G Street Office Building, East End Submarket, Washington, DC |
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| Andrew Weir |
WASHINGTON, DC. ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $259 million
sale of 1325 and 1341 G Street, two
Class A office buildings totaling 440,419 square feet in Washington, D.C.’s
East End submarket.
HFF arranged the sale of
the property on behalf of the sellers, Westbrook Partners, LLC and TIER REIT,
and procured the buyer, UNIZO Holdings Company, Limited, on an off-market
basis.
1325 and 1341 G Street are
located just two blocks from the White House and one block from the Metro
Center metrorail station providing public transit to the entire D.C. area. 1325 G Street, which features 307,705 square
feet, was originally built in 1969 and renovated in 2017.
Originally built in 1903,
1341 G Street NW (The Colorado Building) has also been updated and has 132,714
square feet of office and retail space.
In June 2015, HFF arranged
a joint venture between Westbrook Partners and TIER REIT on an off-market
basis. The new venture undertook a significant repositioning – including a
lobby renovation – and in so doing achieved approximately 150,000 RSF of
leasing activity, thereby increasing occupancy and the weighted average
remaining lease term significantly. In
conjunction, the seller also significantly improved the tenant profile offered
by the assets.
The HFF investment sales
team representing the seller was led by Andrew
Weir, Stephen Conley, Jim Meisel, Dek Potts and Matt Nicholson.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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