Brookfield Properties, an affiliate of Brookfield Asset Management, has sold 701 Ninth St. NW in Washington, D.C., for $175 million according to media outlets.
The new owner is Exelon Corp., a utility company.
The property serves as the local headquarters for Pepco Holdings, a subsidiary of Exelon.
The property totals 364,000 square feet, spanning 10 stories.
Pepco Holdings had owned the 2001-completed asset before the sale to a Brookfield affiliate, according to Commercial Property Executive.
