District of Columbia

WASHINGTON, D.C. — A joint venture between Allianz Real Estate of America Inc. and Columbia Property Trust has acquired 1800 M Street, a 580,930-square-foot office building in Washington, D.C. CoStar reports PGIM Real Estate, an affiliate of Prudential Financial, sold the asset. Andrew Weir, Jim Meisel, Stephen Conley and Matt Nicholson of HFF represented PGIM Real Estate in the transaction and procured the buyer. Columbia acquired a 55 percent interest, and will manage the property and handle leasing activities. Allianz acquired the remaining 45 percent interest. The 10-story building is located at the corner of 18th and M Streets in D.C.’s Golden Triangle area, and is within walking distance of three Metro stations. The property recently underwent renovations, including modernization of the façade, construction of a new dual-entry lobby, creation of a 9,000-square-foot fitness center and roof deck, as well as upgrades to the elevators, restrooms and multi-tenant corridors. At the time of sale, the building was 94 percent leased to 34 tenants including Berkeley Research Group and Zuckerman Spaeder. The acquisition marks the fourth asset owned by the joint venture of Columbia and Allianz, which was formed in July.

WASHINGTON, D.C. — DivcoWest has acquired 1133 15th St. N.W., a 213,000-square-foot office building located on the border of the Central Business District and East End submarkets of Washington, D.C. The sales price was not disclosed, but the Washington Business Journal reports DivcoWest acquired the asset from an affiliate of Clark Enterprises for $100.5 million. The 12-story building is across the street from Midtown Center, the future headquarters of Fannie Mae, and was 90 percent leased at the time of sale. The LEED Gold-certified building features underground parking, a conference facility, fitness center and an on-site deli. DivcoWest will implement a capital improvement program to further upgrade the building’s lobby and common areas.