Dealmaker: C&W Represents Seller in $229M Office Building Deal

Cushman & Wakefield, New York, represented Spitzer Enterprises in selling 1615 L Street NW in Washington, D.C. to Carr Properties for $229 million.

Spitzer Enterprises, New York, purchased the 418,500-square-foot office building in Washington’s central business district for $180 million in 2009.

C&W Executive Directors Eric Berkman, Steven Gichner and Michael Katcher, Vice Chairmen Bill Collins and Paul Collins, Executive Managing Director Drew Flood and Associate John Skolnik represented Spitzer Enterprises.

“This is another strategic acquisition by Carr Properties, north of L Street in the CBD,” Berkman said. The Washington Business Journal reported that the private real estate investment trust is also developing Fannie Mae’s new 865,000-square-foot headquarters one block away.

“This area has become increasingly popular with Millennials that can walk and bike to work,” Berkman said. “The building also has non-traditional common areas that are conducive to a collaborative work environment.”

Located four blocks from the White House and three blocks from two Metrorail transit stations, 1615 L Street was last renovated in 2004. Major tenants include Pew Research Center, FleishmanHillard, Ketchum and Porter Novelli.