Mid-rise office structure sells in D.C.

Seller makes upgrade before closing

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Transwestern Commercial Services brokered the disposition of 1129 20th St., N.W., a 127,445-square-foot office building in Washington, D.C. The value of the transaction was approximately $43.3 million. Penzance Properties sold the asset to JOSS Realty Partners. The eight-story property was originally constructed in 1969, renovated in 1996 & 2005, and contains two-levels of below-grade parking. Situated in the heart of the CBD, the property provides investors an in-place cash flow with upside potential. The property is a freestanding building situated on a 20,374-square-foot lot (0.47 acres), and the property's mechanical systems are currently receiving a significant upgrade from the current owner. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....