The JBG Cos. has added to its District portfolio with the purchase of 1233 20th St. NW for $64.7 million, or about $419 per square foot.
Chevy Chase-based JBG bought the building from co-owners Clarion Partners LLC and Core Plus Properties LLC. Transwestern brokered the deal.
The eight-story, 155,000-square-foot building, known as The Lion Building, is 100 percent leased. Its tenants include the Vietnamese Embassy and The College Board.
JBG, one of the Washington area’s largest real estate companies with 14.4 million square feet of local properties, sought out the site for several reasons including its proximity to the Dupont Circle and Farragut West Metro stations.
“This acquisition is a very nice addition for us,” JBG Managing Partner Matt Kelly said in a statement. “Its transit-oriented location in the heart of Washington’s business district makes it a high-profile, high-demand property well suited for JBG’s portfolio and attractive to major companies and organizations.”
This is the second major sale in the past week. Commonwealth Partners acquired Hamilton Square at 600 14th St. NW for $198 million.Read the full story from the Washington Business Journal.