GLL Partners purchased the leasehold on Carroll Square, a 178,000-sq.-ft. class-A office property in Washington, D.C., from Seaton Benkowski & Partners for $121.4 million. GLL also assumed an existing loan on the building.
Located in Washington’s East End submarket, Carroll Square combines new construction with seven late 19th century commercial townhomes. The 10-store property features a small public art gallery, three rooftop terraces and a “pocket park.” Archdiocese of Washington, D.C. has a ground lease at the building running through 2102. Office tenants at Carroll Square include law firms Seyfarth Shaw, Holland & Hart and Fitzpatrick, Cella, Harper & Scinto, while retail tenants include Le Pain Quotidien, Leica Camera and Coco Sala.
Stephen Conley, Jim Meisel, Dek Potts and Andrew Weir, of HFF, represented the seller in the transaction. Matt Nicholson and Jessica Dickinson provided additional support.