CarrAmerica Realty Corp. purchased The Commercial National Bank Building in Washington, D.C.
CarrAmerica paid $84 million for the 11-story, 205,869-square-foot property.
The property is comprised of two separate but interconnected components. In 1989, CarrAmerica’s predecessor, The Oliver Carr Co., completed the project, which encompassed redevelopment of the historic, 1917-vintage 700 14th Street building and development of the new 1420 New York Avenue component. CarrAmerica or its predecessor has managed the property since its completion.
The Commercial National Bank Building is listed on the National Register of Historic Places. The three-story lobby of 700 Fourteenth Street was once the grand banking hall of the building’s original occupant, The Commercial National Bank. The 75-foot-long hall features marble floors, three-story pilasters and coffered ceilings. 1420 New York Avenue also has a three-story lobby, which complements the former grand banking hall.
CarrAmerica owns, develops and operates office properties in 13 markets throughout the United States.
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