January 16, 2018

French Investor AXA Buys Office Building Near White House For $165M

After breaking into the D.C. market in October with a $140M Bethesda acquisition, French insurance giant AXA has come back for more.

The investor acquired 1401 New York Ave. NW from a JV of Minshall Stewart Properties and Heitman for $165M, CoStar reports.

The 12-story, 210K SF office building, constructed in 1983, sits just two blocks from the White House. Minshall Stewart and Heitman acquired it in 2014 for $95M. Law firm Boies, Schiller & Flexner LLP signed on for 37K SF in the building in 2015. The building features a Starbucks in the ground-floor retail space and has a 5K SF available retail space that Miller Walker Retail Real Estate is marketing.