Korean Firm Pays $115M for K Street Building
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This morning, CBRE announced 1750 K St NW, a 166k SF, 10-story office building in the Golden Triangle, sold to Korean-based Mirae Asset Global Investment for $115M. The building, anchored by Wiley Rein, underwent a $4M renovation in 2010 and sold for nearly $700/SF. While the DC office market continues to experience skepticism-inducing vacancies, the area right around Farragut Square has just an 8.5% vacancy rate.