Lincoln Property Company in partnership with Cara Real Estate, an affiliate of investment manager Cara Investment, announces that they have bought 3040 M Street, NW located in Washington, DC’s Georgetown submarket. Formerly owned by Vornado and represented by Eastdil Secured, the deal closed in late September 2019.
This 48,773 SF property is located in the Georgetown submarket of Washington, D.C. on the corner of M Street, NW & Thomas Jefferson Street, NW. Georgetown, being one of the busiest retail corridors in Washington, DC sees 40,000 pedistrians a day and features national and international retail as well as specialty shops, high-end boutiques and popular restaurants.
3040 M Street, NW has more than 130 ft of prominent street frontage along M Street, NW and is home to DC’s first flagship Nike store along with Amazon Retail.
“With its active location and being 100% leased with a strong tenancy base that include power retailers like Nike and Amazon, the offer was an attractive scenario for purchase and we, along with our partner in the deal, Cara Real Estate, took the opportunity.” said Brandon Ernst, Senior Executive Vice President of Lincoln’s Washington, DC Metropolitan Region.
About Lincoln Property Company
Lincoln Property Company, founded in 1965, is a Dallas, Texas based global real estate company with offices in more than 450 cities in the United States and ten cities throughout Europe. As a one of the largest privately-held, full service real estate firms in the U.S., it provides real estate investment and acquisition, property management, engineering and facilities management, development, construction management, and brokerage services worldwide. Lincoln Property Company currently has $30 billion in total assets under management and has developed 138 million square feet of office, residential and industrial space. For more information on Lincoln Property Company, please call 202.513.6700 or www.lpcwashingtondc.com
About Cara Real Estate
Cara Real Estate, the Real Estate arm of Frankfurt, Germany based investment manager Cara Investment, invests in real estate opportunities throughout Western Europe and the US. Notable transactions include the recent acquisitions of 0 Bond Street in New York and 20 Soho Square in London as well as the development of its headquarter at Goethestrasse 34 in Frankfurt.
