Tishman Speyer Buys East End Building For $163M
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Tishman Speyer closed last week on the acquisition of 601 D St. NW for $162.8M from LHL Realty Co. D.C. LLC, according to a D.C. Recorder of Deeds filing first reported by the Washington Business Journal.
The buyer has already unveiled some of its plans for the property ahead of the sale closing. Tishman Speyer filed plans in April for a renovation project designed by the Shimoda Design Group. The renovations would include an improved stone-clad facade and upgrades to the street-level space, a less extensive overhaul than a previously pitched trophy-level project.
The 533K SF office building, known as the Patrick Henry Building, was built in 1973. It sits within a half-mile of the Gallery Place, Judiciary Square and Archives Metro stations.
The property is one of at least four buildings the DOJ is vacating for the new 500K SF Four Constitution Square office building in NoMa, where it began moving in May. It is also vacating its offices at 600 E St. NW, 1425 New York Ave. NW and 1331 Pennsylvania Ave. NW, presenting potential repositioning opportunities for the owners of those properties.