{"id":1004258576,"date":"2018-08-20T07:26:20","date_gmt":"2018-08-20T15:26:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004258576"},"modified":"2025-02-18T05:39:09","modified_gmt":"2025-02-18T13:39:09","slug":"marcus-partners-snags-26m-dc-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-partners-snags-26m-dc-office-asset\/","title":{"rendered":"Marcus Partners Snags $26M DC Office Asset"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004258579\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Jefferson-Buildling.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004258579\" data-attachment-id=\"1004258579\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/marcus-partners-snags-26m-dc-office-asset\/jefferson-buildling\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Jefferson-Buildling.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Jefferson Buildling\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Jefferson Buildling&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Jefferson-Buildling.jpg?w=400\" class=\"wp-image-1004258579 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Jefferson-Buildling.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Jefferson-Buildling.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Jefferson-Buildling.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004258579\" class=\"wp-caption-text\">Jefferson Buildling<\/p><\/div>\n<p>Marcus Partners has acquired the Jefferson Building, an eight-story boutique office property in the Golden Triangle neighborhood of Washington, D.C. The asset was purchased from Invesco Real Estate for $26.4 million and subject to a $20 million Burke &amp; Herbert Bank loan, according to Yardi Matrix.&nbsp;<\/p>\n<p>Located at 1225 19th St. NW, the 73,152-square-foot building is within close proximity to the four Metrorail stations, restaurants, retail and entertainment options. Features include four full sides of glass, 7,254 square feet of retail amenities on the first level and below grade parking. Marcus Partners will be implementing a capital improvements plan on the property to upgrade the lobby, common areas and building systems.&nbsp;<\/p>\n<p>CBRE&#8217;s Executive Vice President Kevin Howard and Vice President Lara Nealon will continue on as the property\u2019s leasing agents, while Lincoln Property Co. will continue to manage the building.&nbsp;<\/p>\n<h2>Unique investment opportunity&nbsp;<\/h2>\n<p>The Jefferson Building is the only asset in the central business district to offer a nearly 10,000-square-foot availability for a single tenant to occupy the entire top floor.<\/p>\n<p><em>\u201cThe Jefferson Building\u2019s rare, top floor availability is a truly unique opportunity for a modestly-sized tenant to establish a strong presence on its own exclusive floor,\u201d&nbsp;<\/em>Andrew Dolinsky, regional director at Marcus Partners\u2019 Washington, D.C. office, told <em>Commercial Property Executive. \u201cTenants also benefit from the property\u2019s expansive views through its massive windows and spectacular location proximate to the metro, a variety of amenities, and DuPont Circle.\u201d&nbsp;<\/em><\/p>\n<p>Marcus Partners has become increasingly active in the metro D.C. market in recent years, opening a regional office a year ago, led by Dolinsky to both support the company\u2019s&nbsp; 1 million square feet of local real estate and to source new acquisitions. Last November, the firm acquired 3170 Fairview Park, a <a href=\"https:\/\/www.commercialsearch.com\/news\/marcus-partners-buys-dc-area-office-asset\/\">275,000-square-foot office complex in Falls Church, Va.<\/a><\/p>\n<p><em>Image courtesy of Nick Waring&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Jefferson Building, which comprises more than 73,000 square feet, is the only asset in the CBD to offer a nearly 10,000-square-foot availability for a single tenant to occupy the entire top floor. <\/p>\n","protected":false},"author":746,"featured_media":1004258579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21747,1615],"tags":[32789,33882,32838,34323],"class_list":["post-1004258576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-cbre","tag-invesco-real-estate","tag-lincoln-property-company","tag-marcus-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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