An affiliate of Washington, DC-based Carr Properties has closed on the $229 million acquisition of 1615 L Street, a 417,273-square foot office building in Northwest DC, according to city land records. Carr received the property from an affiliate of Spitzer Enterprises, which acquired the building in March of 2009 for $180 million, or $430 per square foot, and paid for the building with cash, assuming a pre-existing $138 million mortgage. Spitzer was represented in the deal by Cushman & Wakefield; representation for Carr Properties was not disclosed.
Carr Properties has made some big bets in the neighborhood, having bought the nearby Washington Post headquarters at 1150 15th Street for $159 million, a new building at 1152 15th Street $138 million, and Columbia Center, which it acquired for $258 million. 1615 L Street is a thirteen-story office building with 412,052 square feet of net rentable space, plus 263 parking spaces contained in a three-level underground parking garage. The property was nearly fully leased at the time of sale.
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