An investor that’s snapped up two D.C.-area office properties over the past year is adding to its holdings by taking over a 210K SF office complex near Dupont Circle from BXP. 

Vieron Capital, a private investment fund and family office headquartered in King of Prussia, Pennsylvania, paid $66.8M this month for the leasehold interest on the three-building Sumner Square at 17th and M streets NW, according to a filing in D.C. deed records Thursday. 

Vieron borrowed $31M from Bank of America for the purchase, according to a trust filed in records.

BXP and Vieron Capital did not respond to requests for comment. 

The District of Columbia owns the ground beneath the three properties, per deed records. The buildings include the restored 1872 historic Charles Sumner School — D.C.’s first permanent school building built for Black students — and the 1887 William Beans Magruder School. 

The sale adds to the wave of private buyers taking advantage of D.C.’s severely discounted office market. Vieron has purchased two other D.C.-area properties in the past year, a 211K SF Tysons Corner office property and a 71K SF office property near D.C.'s Franklin Park, according to its website. The company’s “current expansion focus” is buying Class-A and B office properties in the Virginia and D.C. markets, “with an emphasis on durable tenancy, disciplined basis, and long-term value creation,” its website says.

BXP revealed in a Securities and Exchange Commission filing in May it was under an agreement to sell Sumner Square for $63M to an undisclosed buyer, the Washington Business Journal reported at the time. The REIT recorded a loss of $35M during the second quarter as an impairment charge, reflecting that the sale price was lower than its carrying value of the asset.

The REIT is also under contract to sell its 254K SF building at 1330 Connecticut Ave. NW, anchored by Steptoe, to Jemal Equities, per a Stream Realty report released this month.

BXP is the sole developer pursuing ground-up office in the District. The REIT has two 320K SF projects in the works, one at Metro Center and the other in the West End, and is closing in on a third. 

LEASES

Intelligent Office inked an 8K SF lease at Jemal Equities’ newly renovated 1750 H St. NW. The coworking provider is relocating from 1775 I St. NW, a spokesperson told Bisnow. The new office will provide coworking space, private offices and meeting rooms as well as administrative support for companies. Intelligent Office has more than 50 locations in the U.S. and Canada, according to its website. Jemal Equities purchased the 123K SF building at 1750 H in June 2025 for $28.8M after the lender foreclosed on it in 2024.  

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Law firm Sheppard inked a 107K SF prelease at an office building in downtown D.C., kicking off a trophy-level renovation by owner In-Rel Properties. The Florida-based investor is adding three floors and a penthouse to the office building at 2033 K St. NW for the firm, which is expected to relocate in July 2029 from its office about a block away at 2099 Pennsylvania Ave. NW. In-Rel’s renovation will preserve the original structure while adding a floor-to-ceiling glass curtain wall and other building upgrades. Hines is the construction manager, and Corgan is the base-building architect.

In-Rel purchased the 128K SF property in July 2025 for $20.5M. The building underwent a $20M renovation in 2019. CBRE's Dimitri Hajimihalis, Emily Eppolito and Carroll Cavanagh represented In-Rel, and Savills’ Gary Stein, David Lipson, Jon Glass and Owen Jaccard represented Sheppard. 

SALES

Catalogue founder and CEO Steve Salis purchased the former Woodmont Grill restaurant space in Bethesda with plans to open a Ted’s Bulletin. Salis paid $7M for the 6,300 SF single-story building at 7715 Woodmont Ave., he announced this week. The seller was Hillstone Restaurant Group, also the owner and operator of Woodmont Grill. The restaurant closed in October after more than three decades in business. CBRE’s Gary Taubin brokered the deal. The incoming Ted’s, which is scheduled to open in 2027, would be the local diner chain's 10th DMV location. 

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Douglas Development Corp. sold a 29K SF mixed-use building on Georgetown’s M Street to a developer for a luxury home redevelopment, Bisnow reported this week. The Jemal family sold 2715 M St. NW to Adams Investment Group for $12M, Berkadia Senior Managing Director Bobby Meehling told Bisnow. Meehling represented the Jemals in the deal, which has not yet been recorded in D.C. deed records. The 1985 property consists of 17,100 SF of office, 9,100 SF of residential and 2,900 SF of retail. Douglas has owned the property since 1999.

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The Meridian Group and Harrison Street Asset Management purchased five office buildings in the Westfields Center office park in Chantilly, Virginia. The companies did not disclose the price, but a source familiar with the transaction told Bisnow it was around $67M. Deed records show that the seller was an affiliate of The RMR Group. The properties sit at 4800 and 4840 Westfields Blvd. and 14150, 14151 and 14155 Newbrook Drive, about 7 miles south of Dulles International Airport. Newmark’s James Cassidy, Jud Ryan and Grant Marley brokered the sale.