$NZ11,800/m² sale price for Washington building

Published 17 April 2008

A Washington office building has been sold by a German fund to an Irish one for a record $US867/ft² ($NZ11,797/m²).

 

Jones Lang LaSalle said yesterday it had sold 2099 Pennsylvania Avenue on behalf of German fund Wealth Management Capital Holding GmbH to Vico Capital of Ireland for $US172.5 million.

 

The price eclipses the former record by more than $US40/ft² ($NZ544/m²). The trophy 199,000ft² (18,487m²) class A office building is just blocks from the White House in the heart of Washington’s cbd.

 

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Attribution: JLL release, story written by Bob Dey for this website.

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