Capital City Office Building Lures Big Bucks
Another Washington, D.C., office building has hit the market and fetched a robust, nine-digit sum. Chicago-based office REIT Trizec Properties (TRZ) bought 1200 K Street, N.W. for $190 million last week. The 389,000 sq. ft. property was sold by a group of unidentified private investors. Tenant firm Pension Benefit Guaranty Corp. leases 385,000 sq. ft. of the space through 2018....
Finally, An Uptick in Office Rents
Office landlords got some welcome relief in the first quarter, when average rents nationally rose by 0.7% to hit $20.25 per sq. ft., up from $20.11 per...
