Rockrose Development acquires 180,000 s/f Washington, D.C. property for $43 million

Rockrose Development Corp. has acquired the office building at 1150 18th St., NW in the city's central business district. The 180,000 s/f property, located within the city's "Golden Triangle" ­- an area that houses over 300 retailers, 200 restaurants and seven hotels - was purchased for $43 million from LNR Property, according to Justin Elghanayan, VP of Rockrose. The company purchased the asset at a 25% discount from the last trade of the property in 2007. LNR Property was represented by Gerry Trainor of Transwestern while Rockrose was represented by Craig Deitelzweig, head of Rockrose's office division.