HFF announces $421 million sale of 1800 M Street in Washington, DC
WASHINGTON, DC — Holliday Fenoglio Fowler, L.P. (HFF) announces the $421 million sale of 1800 M St., a 580,930 s/f, recently repositioned, class A office building in Washington, D.C. The HFF team represented the seller and procured the buyer, a joint venture between Columbia Property Trust and Allianz Real Estate of America, Inc. 1800 M St. is a 10-story office building situated at the corner of 18th and M St.s in Washington, D.C.’s Golden Triangle area. The asset has a Walk Score of 99 and is less than a five-minute walk from Farragut Square, Dupont Circle, Restaurant Row and Connecticut Ave. Additionally, it is positioned within a short walk of Washington, D.C’s most popular residential neighborhoods of Logan Circle, Dupont Circle and Georgetown and is within blocks of three Metro stations (Dupont Circle, Farragut North and Farragut West). Recently repositioned and renovated, 1800 M St. is 94% leased to 34 tenants and features nine corner offices per floor, versatile dual core floor plates, dual lobbies, a roof top deck and a best-in-class fitness center. The HFF investment sales team representing the seller included senior managing directors Andrew Weir and Jim Meisel, executive managing director Stephen Conley and director Matt Nicholson. The marketing effort was further supported by HFF’s national co-head of investment sales Manny de Zárraga and HFF’s Global Capital Team comprised of senior managing directors Dan Cashdan, Riaz Cassum, Coleman Benedict and Gerry Rohm. HFF announced, $47 million in financing for Reston Metro Center One & Two, a two-building, 185,671 s/f office portfolio within walking distance of the future Reston Town Center Silver Line Metrorail Station in Reston, VA. The HFF team represented the borrower, a partnership between Coretrust Capital Partners, LLC and Normandy Real Estate Partners, to secure the floating-rate loan through AllianceBernstein. The loan proceeds will be utilized to replace existing financing and to fund future leasing costs at the properties. Reston Metro Center One & Two are located at 12120 and 12180 Sunrise Valley Dr. This location is within 0.3 miles of the future Reston Town Center Metrorail Station and has excellent regional connectivity via the Dulles Toll Rd., Capital Beltway (I-495), Interstates 66 and 95 and Fairfax County Parkway (Route 286). Reston Metro Center One was built in 2000 and features 26,600 s/f floor plates and offers prospective tenants coveted Dulles Toll Road signage opportunities with 250,000 views daily. Renovated in 2001, Reston Metro Center Two is fully leased (cumulatively the two properties are 35 percent leased). The HFF debt placement team representing the borrower included managing director Cary Abod and director Robert Carey.