First Potomac Buys Washington, D.C. Office Property for $49.5 million

Harbor Group International LLC. has sold a 125,119 sq. ft. office building in Washington D.C. for $49.5 million to First Potomac Realty Trust. Based in Bethesda, Md., First Potomac is a self-administered, self-managed real estate investment trust (REIT) that owns, operates and develops office and industrial properties in the greater Washington, D.C. region. Its largest tenant is the U.S. government.

The building First Potomac purchased, located at 1211 Connecticut Avenue, NW, features ground floor retail, according to Holliday Fenoglio Fowler (HFF), which represented the seller.

The purchase was clear of debt, according to HFF. Also known as Longfellow Plaza, the building is located near Dupont Circle and the Farragut West and Dupont Circle Metrorail stations.

Renovated in 2008, the property has eight stories of office space that is fully leased to tenants including International Resources Group, TSI Conn Ave LLC and Washington Sports Clubs.

“1211 Connecticut Avenue NW is a core office building in a Class-A location along Connecticut Avenue, one of Washington, D.C.’s grand office, hotel and retail boulevards,” said HFF senior managing director Jim Meisel.

Harbor Group International LLC, based in Norfolk, Va., is a private real estate investment and management firm.

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