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Rockrose Buys Golden Triangle Building for $40M


Another day, another $500-plus PSF deal in the Golden Triangle. Rockrose Development acquired 1140 19th St NW for $40.5M from a JV of American Real Estate Partners and The Davis Cos. The NYC-based developer paid $547/SF for the 74k SF building, bringing its total DC portfolio to about 2M SF, the Washington Business Journal reports. The JV poured millions into repositioning 1140 19th St and its next door neighbor, 1146 19th St, which it sold in 2013. Rockrose's new building is 95% leased and has retail tenants like Noodles & Co. (with its fresh new logo) and GRK Fresh Greek. [WBJ]