Drawbridge Realty has purchased 1331 L Street, a 169,430-square-foot, 10-story, class A office building in Washington, D.C., for $87 million.
The building serves as the corporate headquarters for CoStar Group.
“We’re extremely excited to add this class A corporate headquarters to our growing national portfolio,” said Bill Doyle, vice president, investments at Drawbridge. “1331 L Street is located in one of the most desirable office submarkets in the country and is adjacent to a vibrant and diversified neighborhood with a growing residential base. CoStar is a fantastic tenant to add to our portfolio and considerably enhances this property's appeal.”
Located along D.C.’s thriving 14th Street Corridor just five blocks from the White House and two blocks from the McPherson Square Metro Station, 1331 L Street was constructed in 2008 and is centrally located at the nexus of Washington, D.C.’s CBD and East End submarkets.
1331 L Street’s core and shell are LEED Gold-certified, while CoStar’s offices are LEED Platinum-certified.
The building features a 2,940-square-foot roof terrace with expansive views of downtown Washington, D.C., a state-of-the-art conference center with seating for 76, and a 3,000-square-foot fitness center with showers and locker rooms. A three-level, below-grade garage offers parking for 102 vehicles with 12 electric vehicle charging stations.
This is Drawbridge’s third investment in the greater Washington, D.C., market, where Drawbridge now owns and manages just under 500,000 square feet of property.
