BentallGreenOak has sold 1717 Rhode Island, a 157,050-square-foot boutique office building in the heart of downtown Washington, D.C.
The sales price was $58.5 million. And the new owner is Tritower Financial Group.
“Tritower is thrilled to acquire this unique asset as its first investment within the District,” said Tod Brainard, CIO at Tritower.
1717 Rhode Island provides a first-class amenity package that includes private terraces on the upper floors, a fitness center, two-story lobby and a three-level parking garage. The property is 86 percent leased with 7.3 years of WALT to six tenants, including Uber, which uses the property as its East Coast hub; Steve Case’s Revolution; and The Case Foundation.
1717 Rhode Island is situated on nearly half an acre adjacent to the historic Cathedral of St. Matthew the Apostle at the confluence of Rhode Island Avenue, Connecticut Avenue and M Street. This live-work-play area is proximate to three Metrorail stati
