Featured Articles Archives - Page 16 of 23

January 13, 2011

The Word In The West End

Cambridge Property Group affiliate Galaxy LLC and Westport Capital Partners have acquired 1250 23rd Street, NW for just under $300/SF. The 21-year-old, Class-A office building was renovated in 2010 and had been vacant for two years, though two tenants moved in in November to bring the 128,600 SF up to 60% occupied.

January 13, 2011

Cambridge, Westport Make D.C. Value-Added Play

Cambridge Property Group and Westport Capital Partners have acquired 1250 23rd Street in Washington, D.C. from Brookfield Office Properties for $36.7 million, or around $300 per square foot. The partners purchased the recently renovated West End office as a value-added play, as it is only 60% leased. Pricing is well below a number of other recent Washington office sales, which have ranged from $600 to $900 per square foot.

July 15, 2010

NAIOP Dealmakers as of July 15, 2010

DC, USA: Northwestern Mutual Life Insurance Acquires 589,088 Square Foot LEED Gold Office Building Cambridge Property Group LLC on behalf of Northwestern Mutual Life Insurance announces the acquisition of the 589,088 SF LEED Gold office building.

June 29, 2010

Today’s Top Story: Two Constitution Square Sells for $305 Million

Today's Top Story June 29, 2010 Two Constitution Square Sells for $305 Million Washington, D.C.: Bethesda, MD based StonebridgeCarras and Chicago based Walton Street Capital have sold Two Constitution Square to Northwestern Mutual for $305 million. The newly constructed building is located at 145 N Street within the Constitution Square mixed-use project. Its 589,000 square feet are completely leased to the U.S. General Services Administration (GSA) for use by the Department of Justice (DOJ). The tenant build-out is currently under way, with the DOJ expecting to take occupancy by late fall. The project is also registered for LEED-Platinum certification, which it anticipates receiving later this summer.

June 28, 2010

Acquisition of Two Constitution Square 145 N St. NE, Washington, DC

Cambridge Property Group LLC, on behalf of Northwestern Mutual Life Insurance Co., is pleased to announce the acquisition of Two Constitution Square in the NoMa submarket of Washington, DC. Two Constitution Square is a 589,088 square foot LEED Gold office building with 12 stories of above ground office space and three levels of below grade parking. The project is awaiting approval from the U.S. Green Building Council on its application for LEED Platinum certification for Core and Shell. The property’s entrance is located immediately adjacent to METRO’s Red Line station at New York Ave. The first floor retail area will feature Constitution Café and Georgetown Valet, and the office area will be fully occupied by the Department of Justice.

June 28, 2010

Two Constitution Square Sells to Northwestern Mutual for $305M

StonebridgeCarras and Walton Street Capital have completed the sale of Two Constitution Square in Washington, D.C. to Northwestern Mutual for $305 million. The 589,000 square foot office building located at 145 N Street, NE in Washington, D.C.'s NoMa neighborhood is leased to GSA for the Department of Justice.

June 28, 2010

Regional Real Estate Report: Two Constitution Square Sold for $305 Million

StonebridgeCarras and Walton Street Capital last week sold Two Constitution Square, a 145 N Street, NE in the NoMa neighborhood, to Northwestern Mutual for $305 million. The 589,000-square-foot office building is leased to the General Services Administration for the Department of Justice.

June 25, 2010

Two Constitution Square Trades for $305M

Washington, D.C. – The NoMa submarket’s arguable crown jewel-Two Constitution Square has traded for $305 million. […]

June 24, 2010

Justice Departments Office HQ in DC Trades for $305 Million

Northwestern Mutual completed its purchase of Two Constitution Square in Washington, DC, from Bethesda, MD-based StonebridgeCarras and Walton Street of Chicago for $305 million, or approximately $518 per square foot.

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