Transwestern announced today that they brokered the sale of 2131 K Street, N.W., Washington, D.C., an 8-story first class office building totaling 88,074 square feet for $28,800,000
Transwestern’s Institutional Commercial Group brokered the sale on behalf 2131 K Street NY LLC (JOSS Realty Partners). Transwestern also brokered JOSS Realty Partners original acquisition of the property five years ago for $21,050,000.

2131 K Street, N.W., is an 8-story multi-tenanted office building originally constructed in 1981 and underwent extensive renovations in 2009. The property is located in Washington, D.C.’s Central Business District (CBD) between 21st and 22nd Streets, adjacent to Washington Circle, one of D.C.’s most desired locations.

Situated on the border of Washington, D.C.’s West End sub-market and adjacent to Washington Circle, 2131 K Street, N.W. offers its tenants an exceptional location. According to Transwestern’s research affiliate, Delta Associates, the West End sub-market enjoys the second lowest direct vacancy rate in the city at 6.0 percent and Washington Circle has become the new “A” location for office, medical and law firm tenants. Furthermore, the property is currently 90 percent leased providing stable cash flow. There is also additional FAR available that allows for three additional floors creating an 11-story building totaling 120,474 square feet.

Building features include three sides of windowed offices that provide an abundance of natural light, three levels of below grade parking, and its 2009 renovation that included expanding the retail frontage, a new lobby, the expansion of the 2nd and 3rd floor office areas, as well as a new façade with dramatic lighting on the front of the building.

Current tenants of 2131 K Street, N.W. include George Washington University Hospital, Cardiology Associates, Atlantic Services Group, The George Washington University’s National Health Policy Forum, and Gambro Healthcare (Davita).

Transwestern’s DC Institutional Commercial Group focuses on institutional investment services throughout the Washington, D.C. region, providing their clients with exceptional service and market knowledge.  Over the past 12 months, the Institutional Commercial Group’s transactions have totaled over $1 billion in aggregate value.  Their 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, please visit or call Gerry Trainor, Executive Managing Director at 202-775-7091.

About JOSS Realty Partners LLC
JOSS Realty Partners LLC (“JOSS”) is a private real estate investment management firm headquartered in New York City.  The firm owns and operates commercial office properties in the metropolitan markets of Washington, D.C., New York, Philadelphia, Boston and Southeastern Florida.  JOSS was founded in 2005 by Larry Botel and Steve Klein.  Since inception, JOSS has acquired 15 office assets totaling over 2.5 million square feet with a value in excess of $650 million.   

About the Company
Transwestern is a national, privately-held operating company specializing in commercial real estate services, investment and development.  The firm’s fully integrated approach delivers value to owners, investors and users of commercial real estate through innovation, penetrating market intelligence and legendary service delivered by teams of local experts.  Transwestern has product specialties in office, industrial, retail, multifamily and healthcare and is an industry leader in sustainability solutions and in market research through its affiliate, Delta Associates.