The owners of a recently renovated downtown D.C. office building have defaulted on their mortgage, leaving the property to be sold at a foreclosure auction next month.
The 123,000-square-foot, 10-story office at 1750 H St. NW, two blocks from the Farragut West Metro station and three blocks from the White House, is scheduled for a June 20 foreclosure sale at the D.C. office of Alex Cooper Auctioneers Inc. Per the foreclosure notice, $32.7 million is outstanding on the note held by State Farm Life Insurance Co., which is scheduled to mature on Aug. 1, 2027.
While 1750 H, built in 2002, falls into the class of office buildings that are experiencing lower occupancy and reduced cash flow, the property was fairly recently renovated with a new outdoor terrace, new lobby, a glass-enclosed conference center and multifunctional tenant lounge. That work helped land World Food Program USA, which chose 1750 H as its headquarters in 2022. The building’s vacancy rate is unclear.
Office Properties…
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