StonebridgeCarras and Walton Street Capital last week sold Two Constitution Square, at 145 N St. NE in the NoMa neighborhood, to Northwestern Mutual for $305 million. The 589,000-square-foot office building is leased to the General Services Administration for the Department of Justice.
Two Constitution Square was completed earlier this year, and the Justice Department has accepted the first three phases of a seven-phase tenant construction project. The department's construction will be completed later this summer, and the agency will fully occupy the building by late fall. Northwestern Mutual has retained StonebridgeCarras Management to continue managing the building.
"This sale to Northwestern Mutual culminates more than two years of extraordinary work and circumstances, given the incredible changes in the capital markets during this period," said StonebridgeCarras Principal Doug Firstenberg.
StonebridgeCarras and Walton Street were represented in the transaction by Cassidy Turley, and Northwestern Mutual was represented by Cambridge Property Group.
