JLL Capital Markets Arranges $21.5 Million Sale of Office Building in Washington, D.C., for Multifamily Conversion

WASHINGTON, D.C. — JLL Capital Markets has arranged the sale of an office building in the Dupont Circle neighborhood of Washington, D.C. Located at 1201 Connecticut Ave. NW., the 12-story building comprises 190,385 square feet of office space.

An affiliate of Duball purchased the community for $21.5 million, with plans to convert the development to a 161-unit community. Once converted, the property will also offer ground-floor retail space and rooftop amenity space, including a pool. A development timeline for the project was not disclosed.

Tom Hall, Matt Nicholson, Kevin Byrd, Jim Meisel, Andrew Weir and Dave Baker of JLL represented the seller, a subsidiary of BrightSpire Capital, in the deal.