{"id":1004136255,"date":"2016-02-03T06:13:57","date_gmt":"2016-02-03T14:13:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004136255"},"modified":"2025-02-24T23:54:22","modified_gmt":"2025-02-25T07:54:22","slug":"hff-leads-135m-refi-for-d-c-trophy-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-leads-135m-refi-for-d-c-trophy-office-building\/","title":{"rendered":"HFF Leads $135M Refi for D.C. Trophy Office Building"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/p>\n

\"700<\/a>

700 11th St. NW, Washington, D.C.<\/p><\/div>\n

A joint venture between an affiliate of Hines Interests Limited Partnership<\/a> and a pension fund advised by Sarofim Realty Advisors<\/a> has secured a $135 million, 10-year loan through Allianz Real Estate of America to refinance 700 11th St. N.W., in Washington, D.C, the global headquarters of law firm Williams & Connolly<\/a>.<\/p>\n

HFF<\/a> represented the partnership in the refinancing deal for the 301,774-square-foot trophy office building in D.C.\u2019s burgeoning East End office market.<\/p>\n

\u201cIn terms of fundamentals, we\u2019re seeing a game of musical chairs. Companies are moving from older stock to newer stock, oftentimes leaving behind more space than they\u2019ve taken,\u201d Robert Hartley, Colliers International\u2019s director of research for the area, told CPE. \u201cBecause of height restrictions in D.C., we\u2019re really a supply-constrained market, especially in an area like the East End, which has been built out so much.\u201d<\/p>\n

In addition to Williams & Connolly, fast-casual restaurant Cosi occupies the retail space on the ground-floor level. The building features a two-story lobby with a central rotunda, Italian marble floors and mahogany walls as well as a five-level, 324-space underground parking garage.<\/p>\n

The 700 11th St. building is located on a .86-acre site bounded by 11th, G and 12th streets, directly above the Metro Center Metrorail station, providing connectivity to the Red, Orange, Blue and Silver Metrorail lines.<\/p>\n

The property is located in a popular East End location, just one block from the CityCenterDC mixed-use development, two blocks from the Walter E. Washington Convention Center and the new Marriott Marquis Hotel and four blocks from the White House.<\/p>\n

\u201cThe trophy high-end properties in D.C. have vacancy rates of 18.1 percent; compared to the older nice stuff, the vacancy rate is 11.9 percent,\u201d Hartley said. \u201cThere is a huge dichotomy between these brand-new, high-tech buildings and the older slightly-aged buildings.\u201d<\/p>\n

HFF\u2019s team was led by Susan Carras, Walter Coker and Brian Crivella.<\/p>\n","protected":false},"excerpt":{"rendered":"

A joint venture between Hines and Sarofim Realty Advisors secured the 10-year loan to refinance 700 11th St. N.W., in Washington, D.C., Williams & Connolly’s global headquarters.<\/p>\n","protected":false},"author":451,"featured_media":1004136256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,21742,21747,1615],"tags":[],"class_list":["post-1004136255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-latest","category-office","category-washington-dc"],"acf":[],"yoast_head":"\nHFF Leads $135M Refi for D.C. 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