WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it arranged the sale of One Metro Center in Washington, DC.
Bill Collins, Paul Collins, James Cassidy, Drew Flood andJud Ryanof Cassidy Turley represented the seller, Clarion Partners. Jamestown acquired the property for $307.5 million. Cassidy Turley’s John Campanella and Paul Spellman secured the acquisition financing for Jamestown with a bank lender that provided a floating-rate loan.
“Jamestown recognized the long-term value of acquiring a Class A building physically linked to the central hub of the Metro,” Mr. Cassidy said, “and despite some near term rollover, recognizes One Metro Center as a high quality building in a great location that is only getting better with the delivery of CityCenter.”
Located at 701 13th Street, NW, One Metro Center is a 421,235-square-foot iconic, trophy building in the heart of Washington, DC’s East End and is just three blocks from the White House. One Metro Center is unique in that it is constructed atop and adjacent to Macy’s department store, thereby providing all upper-level, high-quality space. Delivered in October 2003, the building is 100% leased and features a six-story, 5,000-square-foot stone and glass atrium providing its tenants eight sides of glass.
One Metro Center is directly connected to the Metro Center Metrorail station with a shuttle elevator providing direct access to the Red, Blue and Orange Lines. Additionally, the building is two blocks from CityCenter, and a short walk to the Verizon Center, the Washington Convention Center and the Gallery Place shops and restaurants.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.