Rockrose Under Contract to Acquire 1900 M St, NW for $55M
Photo Courtesy of nhc.org
New York City-based Rockrose Development Corp. is under contract to buy 1900 M Street NW, a Class-A office building at the southwest corner of 19th Street, two blocks from DuPont Circle in Washington D.C.’s Golden Triangle Business District.
Comprising 112,687 rentable square feet, 1900 M Street NW is an eight-story building that is currently 89 percent leased. It is home to office tenants including Levick Strategic Communications, law firm Sherman Meehan and State Farm Insurance.
The seller was represented by Gerald P. Trainor of Transwestern. Craig Deitelzweig, head of Rockrose’s office division, represented Rockrose in-house.
The selling price is approximately $55 million.
Fully renovated in 2000, the building is on the corner of 19th Street and M Street near Rockrose’s two other recent acquisitions, 1150 18th Street and 1776 Eye Street. This property also has 135 on-site parking spaces.
The purchase is part of a strategic plan for Rockrose to significantly grow its office portfolio in Washington, DC and New York City. This asset sale will represent the third Washington, D.C. property that Rockrose has acquired within the past 18 months. It says it intends to purchase additional DC properties in the near future.
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