The Bernstein Cos.' investment arm has paid $92 million for two office buildings in Maritime Plaza, a buy that breaks up the partially developed, mixed-use complex once expected to ignite a firestorm of retail and residential in Southeast.
With a stable supply of properties commanding well over $300 per-sf these days, the District continues to lead the nation's office market, and a recent transaction involving the disposition of the approximately 300,000-sf building at 2100 M St. just adds to the city's status.
There seems to be no end in sight to big-ticket office property dispositions in the District, and the recent $87.6 million sale of the 212,000-sf Franklin Tower has added to the city's growing collection of high-priced sales.
What remains of the Atlantic Building at 930 F Street--once the largest commercial structure in the District--has been sold to area developer Douglas Jemal of Douglas Development Corp. for a rumored $10.5 million.
Bernstein Cos. launches $100 million investment fund Washington, D.C.-based The Bernstein Cos. (TBC) has subscribed to a $100 million Consortium Capital equity fund designed to attract acquisition and joint venture partners.