The Biggest Buyer of Local Commercial Real Estate for 2004
The biggest buyer of local commercial real estate last year was Teachers Insurance and Annuity Association-College Retirement Equities Fund, according to preliminary results from Washington-based brokers Cassidy & Pinkard, which has one of the largest office-sales divisions in the region. TIAA-CREF, based in New York, bought $735 million worth of real estate. It also closed last week on a deal to buy 1001 Pennsylvania Ave. NW, a 802,390-square-foot building for which it paid another $461 million, or $575 per square foot.
See the story at http://www.washingtonpost.com/wp-dyn/articles/A43429-2005Jan2.html
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