{"id":1004128469,"date":"2015-09-30T03:48:15","date_gmt":"2015-09-30T11:48:15","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=361735"},"modified":"2022-12-05T01:52:37","modified_gmt":"2022-12-05T09:52:37","slug":"prei-buys-trophy-office-property-in-washington-d-c","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prei-buys-trophy-office-property-in-washington-d-c\/","title":{"rendered":"PREI Buys Trophy Office Property in Washington, D.C."},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor <\/em><\/p>\n<p><strong><a href=\"https:\/\/www3.prudential.com\/prei\/main\/index.shtml\">Prudential Real Estate Investors<\/a><\/strong> has announced the acquisition of 500 8th Street, a 10-story mixed-use office building in Washington, D.C., on behalf of institutional investors.<\/p>\n<div id=\"attachment_361736\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Kevin-Smith-Head-of-Americas-for-Prudential-Real-Estate-Investors.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-361736\" title=\"Kevin Smith, head of Americas for Prudential Real Estate Investors\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Kevin-Smith-Head-of-Americas-for-Prudential-Real-Estate-Investors.jpg\" alt=\"Kevin Smith, head of Americas for Prudential Real Estate Investors\" width=\"300\" height=\"230\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Kevin Smith, head of Americas for Prudential Real Estate Investors<\/p>\n<\/div>\n<p>Built in 2007, the property encompasses a 325,361-square-foot office building with 18,663 square feet of retail space and a three-level parking garage.<\/p>\n<p>Located at 500 8<sup>th<\/sup> St., the building is situated in the city\u2019s East End, in close proximity to the White House, the U.S. Capitol and the National Mall; it is also situated within two blocks of all six major metro lines. The building features a 10-story glass atrium, two distinct marble and granite-finished lobbies, dual rooftop terraces with panoramic views, an onsite fitness center, as well as two art exhibition areas.<\/p>\n<p>Penn Social restaurant and bar, Bruegger\u2019s Bagels and the James Beard award-winning restaurant, minibar and barmini are among the property\u2019s retail tenants.<\/p>\n<p>\u201c500 8th Street is a trophy asset with modern, high-quality finishes in one of Washington, D.C.\u2019s premier office submarkets,\u201d <a href=\"https:\/\/news.prudential.com\/article_display.cfm?article_id=7232\">Kevin Smith<\/a>, head of Americas for PREI, said in a statement for the press. \u201cWith an improving employment outlook and the expectation that tenants\u2019 flight to quality and amenities will continue to drive long-term demand for premier office product in the East End, 500 8th Street is well-positioned to generate strong and stable cash flows for our investors.\u201d<\/p>\n<p>Prudential Real Estate Investors is the global real estate investment management and advisory business of <a href=\"https:\/\/www.prudential.com\/view\/page\/public?h=2\">Prudential Financial Inc<\/a>., and operates as Pramerica Real Estate Investors in markets outside the Americas, Korea and Japan.<\/p>\n<p><em>Photo credits: Prudential Real Estate Investors<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Class A office asset in the city&rsquo;s East End lures institutional investors.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[682],"class_list":["post-1004128469","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc","tag-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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