Vornado sells 250,000 s/f Washington, D.C. office bldg. for $207.8 million

Vornado Realty Trust has sold 1999 K St., a newly developed 250,000 s/f office building in the city's Central Business District to an international investor. The building was designed by Helmut Jahn and achieved LEED-CS Gold certification. The $207.8 million sales price has a first-year cash cap rate of 6.3%. The building is 100% pre-leased to the law firm of Mayer Brown LLC. Vornado will manage the property on behalf of the new owner.