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May 22, 2019  

Vornado Pitching DC Retail Property

Vornado Realty is offering a fully leased retail property in Washington’s Georgetown neighborhood.The 44,000-square-foot building, at 3040 M Street NW, is expected to draw bids of around $50 million, which would translate to an initial annual yield of roughly 5%. The marketing campaign touts the strength of its investment-grade tenants: Nike and Amazon. Eastdil Secured is representing Vornado.The New York REIT bought the property in 2006,...

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