Trizec Properties has purchased a significant interest in 2001 M St., a 229,000-square-foot office property in Washington, D.C. The value of the transaction was $76.6 million. The property is held in a joint venture with a local investor group. The seller was BCSP II Washington Mortgage Holdings LLC. The property was fully occupied at the time of sale, with the 211,000-square-foot office portion being leased to KPMG through the end of 2011. Trizec will lease and manage the property. 2001 M Street N.W, completed in 1987, is a nine-story class A building. It features a ground-floor shopping arcade and post office branch and a two-story underground parking garage. Chicago-based Trizec Properties Inc. is a real estate investment trust. *** What's your opinion? Send your Letter to the...
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