Heavy-hitters Spend Big Bucks on Real Estate

Last month, when New York-based Brookfield Office Properties purchased 799 9th Street for $106 million, or about $522 per rental square foot, the company said that improvements—including a full lobby and building entry renovation, a tenant fitness center with showers and lockers, a new roof terrace, and restroom upgrades—will be in place by the summer of 2013. Currently 96-percent occupied with all leases set to expire in December 2012 and January 2013, the LEED Gold-certified building is primarily occupied by General Services Administration tenants, including U.S. Customs and Border Protection. The 10-story, 203,000-square-foot building was erected in 2001 and traded hands in 2006 for $127.5 million.

Post New Comment

Comments which are spam, off-topic, abusive, or use excessive foul language will be deleted.
No HTML markup is allowed. URLs will be turned into links automatically. 3000 character limit.

If you want a small picture next to your comments, get a gravatar.

Mon, 21 Apr 2014 03:40:06 -0400

Subscribe to our newsletter to receive the latest Georgetowner updates.