Cornerstone Property Prime for Repositioning
Washington D.C. (September 26, 2019) – Network Realty Partners (Network) and Meadow Partners, a New York-based real estate investment firm, acquired 2100 M Street, NW from an entity affiliated with Liberty Property Trust (NYSE:LPT).
Located in the West End/Dupont Circle neighborhood, 2100 M Street is an eight-story, 300,000 square foot office building with ground floor retail space. Long known as the Social Security Administration’s branch office location, the property is essentially vacant following the departure of The Urban Institute earlier this year.
“This property is a cornerstone asset in a prime location, bridging the CBD, West End and Dupont Circle submarkets,” said Bill Morris, Network Realty Partners Managing Partner. “We have a tremendous opportunity to breathe new life into a prime corner location that’s been dark for almost 30 years.”
“This acquisition fits perfectly with our strategy to acquire well-located assets in established, mixed-use locations with a focus on improving the office tenant experience with the addition of attractive retail spaces, office amenities and services” Morris continued.
Eli Barnes, Will Stern and Jonathan Wellborn of Avison Young have been retained to handle office leasing for the repositioned property.
Morris and Rod Lawrence launched Network together in late 2018 as a real estate investment and development company focused on urban, place-based office and mixed-use investing. Over the last twelve months, the company has assembled a team of talented and highly capable real estate professionals with expertise in development, construction and leasing.