Harbor Group International sold 1211 Connecticut Avenue in Washington, D.C. this week for $49.5 million to First Potomac Realty Trust according to Citybizlist. The eight-story 137,754 square-foot office building was originally constructed in 1967 and underwent renovations in 1998 and 2008; First Potomac indicated that it plans to renovate the property's facade and lobby. With 125,119 rentable square feet, the property is currently 100% leased to 25 tenants.
"The acquisition of 1211 Connecticut Avenue adds another strong, stabilized asset to our portfolio of DC-area properties," said Douglas J. Donatelli, Chairman and CEO of First Potomac Realty Trust. "As our seventh office building acquisition this year, and the third acquisition in downtown Washington, D.C., this purchase is a reflection of our strategy to leverage our strong financial position and market expertise to execute deals that deliver long-term value to our shareholders."
For more news and information visit Blumberg Capital Partners.
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