New York rehabber buys Glover Park office building

February 10, 2022

By Tristan Navera

A lot of real estate transactions cross our desks at the Washington Business Journal. We can’t devote full stories to them all, but some deserve to be on the record. Welcome to Deal Dash.

Glover Park building next up for New York rehabber

BG Smith owns the six-story, 110,000-square-foot 2121 Wisconsin Ave.

Marx Realty, the New York-based company most recently known for renovating 1307 New York Ave. NW downtown, has a new project. It recently bought the six-story, 110,000-square-foot office building at 2121 Wisconsin Ave. NW for $27.7 million from JBG Smith Properties (NYSE: JBGS), according to public records.

The building was built in 1960 and most recently renovated in 2000. Marx said it was attracted to the tenants there — NexStar Media Group, the major tenant, recently signed a lease for an additional 28,766 square feet on the third floor while language immersion school CommuniKids added 8,900 square feet. Marx, which undertook an extensive renovation of 1307 New York, didn’t go into detail on what its renovation plans would be for the Glover Park property, but said it’s been looking to expand its local holdings and that this was an attractive project given the “flight to quality” in the office world.

“This is a solid asset for our portfolio given the building’s terrific ceiling heights and column spacing,” said Craig Deitelzweig, president and CEO of Marx Realty. “We’ll continue to reimagine unique and special office assets with wide appeal for today’s discerning tenants.”