WASHINGTON, D.C. – Transwestern today announces New York-based JOSS Realty Partners has named the firm’s Institutional Commercial Group as the exclusive sales agent for 4201 Connecticut Ave. NW, a 70,971-square-foot office building located in the Uptown submarket of Washington, D.C. Replete with below-market in-place and asking rents, 4201 Connecticut Ave. offers investors the opportunity to acquire a core asset in a Class A location for well below replacement cost with the ability to add value through increased rental rates as tenant leases expire.
4201 Connecticut Ave. is 94 percent leased and has commanded a similarly high level of historic occupancy, partly due to the low 6 percent office vacancy rate of the Uptown submarket. The diverse tenant base, which includes Bank of America and MedStar Health, exemplifies the building’s flexibility and provides a well-rounded source of income.
Situated at the corner of Connecticut Avenue NW and Van Ness Street NW, 4201 Connecticut Ave. features numerous nearby retail and restaurant amenities and is in close proximity to Washington, D.C.’s downtown submarkets. The building’s current owner recently completed a comprehensive renovation program totaling nearly $3 million, including upgrades to the lobby, main entrance, elevators, restrooms and parking garage; new HVAC units; and a new roof.
Transwestern’s Institutional Commercial Group includes Gerry Trainor, Jim Cardellicchio, Joe Friedman, Julian Etches, Mark Glagola, Wesley Machowsky and Clifton McCrory. Since 2011, the group’s transactions have totaled more than $2 billion in aggregate value. The team’s success is a direct result of their detailed underwriting and keen understanding of the local, national and international investment communities. For more information on the Institutional Commercial Group, visit Transwestern-ICG.com or call Trainor at 202.775.7091.
ABOUT JOSS REALTY PARTNERS
JOSS Realty Partners LLC (www.jrpllc.com) is a private owner/operator focused real estate investment management firm based in New York City. The firm has a long history of investing in strong East Coast office markets such as New York, Washington D.C., Philadelphia and Miami and has acquired 17 office assets totaling over 2.75 million square feet with a value in excess of $650 million. JOSS also has a vertically integrated property management platform, BMS Realty Services, based in Washington, D.C.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.