BXP Sells D.C. Office to Jemal Equities for $92M
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. Washington office has been a leading conversion market in the cycle, with multiple downtown Class B assets entering office-to-residential programs in the last twelve months. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 62nd Washington story tracked on the wire in September 2026. All Washington coverage →
- Disclosed office deal value tracked in September 2026: $14.3B across 76 reported transactions. All Office coverage →
- 17 stories mentioning BXP on the wire in the past 90 days. BXP coverage →
Computed from Real Estate Trail’s own tracked coverage
BXP has unloaded a 254,000-square-foot office building in Washington, D.C.’s Dupont Circle for $92.3 million as the firm sheds older properties in the nation’s capital. Affiliates of Jemal Equities acquired the buildi…
External link. Real Estate Trail does not republish source content.
Related coverage — Washington · Office
U.S. Government Pays $285M for Defense Health Agency HQ in Northern Virginia
The federal government has acquired the Defense Health Agency ’s Northern Virginia headquarters for $285 million, adding another large leased office campus to the nation’s real estate portfolio. The Naval Facilities E…
DC Retail Investment Activity Increases, Virginia Suburbs Show Strength
Across the Washington, D.C., area, more retail space was leased than vacated in 2025, despite federal government layoffs and broader economic headwinds, according to a recent report by Marcus & Millichap . The metro r…
Victoria Industrial Acquires Seven-Building Portfolio in Northern Virginia for $75M
STERLING, HERNDON AND CHANTILLY, VA. — Victoria Industrial Properties, a real estate investment firm based in New Jersey, has acquired a seven-building industrial and flex portfolio in Northern Virginia’s Dulles Corri…
GID Acquires 524-Unit Griffis North Creek Multifamily Community in Bothell, Washington
BOTHELL, WASH. — GID has purchased Griffis North Creek, a multifamily property in Bothell, from Griffis Residential for an undisclosed price. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Pal…
7 Cedars Resort Properties Expand Use of Agilysys Ecosystem to Streamline Gaming Operations, Reduce Manual Processes and Improve Staff Efficiency
7 Cedars Resort in Washington deployed Agilysys PMS, POS, booking, and marketing tools across hotel, casino, golf, and F&B, cutting manual processes and boosting reservations across all channels.
American Infrastructure Alliance Launches First Nationwide Partnership Between Labor & Business to Advance Responsible Data Center Infrastructure Growth
Coalition will advocate for common-sense guardrails that protect water resources, hold down energy costs, and ensure communities share in the benefits of responsible development WASHINGTON, Sept. 28, 2026 /PRNewswire/…