Jamestown Buys America’s Square

Jamestown LP announced last month the acquisition of a new office property in Washington, D.C. The investment and management company has purchased America’s Square, an iconic, two-building property, located in the city’s downtown.

Jamestown LP announced last month the acquisition of a new office property in Washington, D.C. The investment and management company has purchased America’s Square, an iconic, two-building property located in the city’s downtown.

Michael Phillips, president of Jamestown, called the deal a ”once-in-a-generation opportunity (to buy) one of the best assets in the market.” He did not reveal how much his company paid for the property, but the Washington Business Journal reported that America’s Square changed hands for $500 million, making it only the second time a D.C. office property has sold for more than $1,000 per square foot. Dweck Properties was the seller.

The two office buildings that make up America’s Square are located at 51 Louisiana Ave.., N.W., and 300 New Jersey Ave. Together, they offer 461,484 square feet of space. The property is currently occupied by companies such as Jones Day, Siemens, Comcast NBC Universal, Carr Workplaces and Business Roundtable. America’s Square is LEED Gold certified.

The building at 51 Louisiana Ave. is designated historic, having been constructed in 1935, while 300 New Jersey Ave. was built just a few years ago, in 2009. It was designed by the internationally acclaimed architect Lord Richard Rogers. The two buildings are connected by a glass atrium and share access to a six-level underground garage.

Photo credit: Jamestown