Georgetown's Washington Harbour Hits The Market
Washington Harbour, the 562K SF mixed-use complex on Georgetown's waterfront, is on the market for sale.
The property's owners, a group of South Korean investors advised by Principal Real Estate Investors, has retained HFF to seek buyers for the complex, the brokerage announced Thursday.
The two-building waterfront property at 3000 and 3050 K St. NW features 477K SF of office space and 85K SF of retail space, with several restaurants, including Fiola Mare, Nick's Riverside Grill, Farmers Fishers Bakers, Tony and Joe's Seafood Place and Sequoia. The bustling complex sits around a fountain that is converted into an ice rink during the winter months.
The ownership group acquired the property in 2013 for $370M from MRP Realty and Rockpoint Group. MRP has continued to manage Washington Harbour, where it is also headquartered. The property is 98% leased to 31 tenants with an average of seven years remaining on their leases.
MRP recently brought on JLL to help fill some of the property's vacant space by creating a series of spec suites around a common amenity space it branded as Harbour Town, leading to a series of new leases. The property manager also brought on the beloved security robot Steve, who famously fell into the fountain during his first day on the job, going viral in the process.
