Metropolitan Square, a prominent office building situated in downtown Washington, D.C., has been purchased for $305 million. The transaction was reported by the Washington Business Journal.
Artemis Real Estate Partners of Chevy Chase acquired the 654,000-square-foot building from Blackstone and Boston Properties. This 12-story structure is located just one block away from the White House and stands as one of the largest Class A office buildings in D.C.
Following some tenant departures, Metropolitan Square underwent a $60 million renovation between 2017 to 2020 to enhance amenities and increase occupancy rates. Currently, its full-service rent rate is at $79 per square foot.
