Exterior corner view of the 1000 F Street Building

Douglas sells downtown office building to New York firm

Douglas Development Corp. is selling one of its prime downtown D.C. office buildings, located at 1000 F St. NW.

New York-based MC Real Estate Partners announced Wednesday that it’s buying the building from Douglas for $106 million. The company worked with an undisclosed “international family office” to pull off the transaction.

The 11-story building is located just a block away from the Metro Center station and is fully occupied, per the announcement. MCRE leaders pointed to the building’s “dramatic ceiling heights, boutique floor plates, private terraces on five floors” and close Metro proximity as key amenities.

Douglas opened the building in 2017, four years after breaking ground on the speculative project. The 95,000-square-foot building is currently home to retailers including Sephora and GRK Fresh, with office tenants including First Data Corp.

“We are confident the new ownership team will be a great long-term steward for the property,” Douglas Development Principal Norman Jemal wrote in a statement.

Eastdil Secured represented Douglas in the transaction. Latham & Watkins LLP advised MCRE.

The acquisition means that the New York firm now owns two prime properties in downtown D.C. The company also owns 1100 G St. NW. It also counts office buildings in Bethesda and Rockville among its portfolio in Greater Washington.

Original Article