Washington, DC

Cassidy & Pinkard Colliers today announced that it arranged the sale of 500 First Street, NW, a 131,141 square foot, office building in Washington, DC. Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy & Pinkard Colliers represented the seller, Municipal Associates. Polinger Development Co. purchased the building for $44.9 million.

500 First Street, NW is a 131,141 square foot office building situated in the Capitol Hill submarket of Washington, DC, and located just two blocks from the US Capitol and Union Station. GSA Federal Bureau of Prisons currently occupies 100 percent of the asset, and plans to lease the building through July 2016. Polinger Development Co. will complete several renovations to the project over the next two years as part of the GSA’s extension. The Federal Bureau of Prisons, who has occupied the project since 1996, has benefitted from its location in the Capitol Hill submarket, where several related groups have clustered, including the Department of Homeland Security and Department of Justice. 

About Cassidy & Pinkard Colliers
Cassidy & Pinkard Colliers (www.cassidypinkard.com) is the largest locally owned commercial real estate services company in the Washington metropolitan region. In 2007, Cassidy & Pinkard Colliers completed over $4.2 billion in commercial sales, finance and lease transactions, $75 million in project management, and at year-end, managed over 13 million square feet in commercial and retail properties. Cassidy & Pinkard Colliers was recognized in June 2007 by the Washington Business Journal as one of the top five “Best Places to Work in Greater Washington” in the Large Companies with Local Headquarters category. An independently owned and operated business founded in 1981, the company is a member firm of Colliers International, a global affiliation of independently owned and operated commercial real estate firms. 

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.

Contact Information

Maureen Wheeler
Vice President, Corporate Communications
202-463-2100
Maureen.Wheeler@cassidypinkard.com

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