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Bisnow Scoop: Clark Enterprises Selling Majority Stake In 230k SF Capitol Hill Office Building
July 13, 2016
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Clark Enterprises is selling its 70% stake in 500 North Capitol St, a source tells Bisnow.
Boston Properties owns the other 30% of the 230k SF building and will be retaining that ownership. The building, a block from Union Station, is anchored by McDermott Will & Emery.
The source could not disclose the buyer of the property or the sale price. The building's proposed 2017 assessment value for tax purposes is $143.6M, according to the DC Office of Tax and Revenue.
The 1960s era building recently underwent $130M in renovations, designed by Gensler. The landlords installed a glass exterior, a fitness center and a rooftop deck.
