WASHINGTON, D.C. — New York-based Paramount Group has acquired a trophy office building located within blocks of the White House. The building totals 11 stories and 190,000 square feet, and is located at 1899 Pennsylvania Ave. It is part of a three-building campus located along Pennsylvania Avenue between 18th and 19th streets. Law firm WilmerHale anchors the campus, leasing a vast majority of all three buildings including 87 percent of 1899 Pennsylvania.
The property was originally built in 1915 and renovated in 2002. It features a floor-to-ceiling glass façade, below-grade parking, a marble lobby and a rooftop terrace. Paramount's near-term plans for the property include investing to achieve LEED-Gold certification.
In a statement Paramount President and CEO Albert Behler said, “Trophy asset quality and location along with a superb tenant such as WilmerHale make this acquisition a winning combination that complements the rest of our portfolio.”
The seller and purchase price were not released.
— Coleman Wood