Washington, D.C., June 30th, 2022– Feldman Ruel Urban Property Advisors, the leader in the sale of sub-institutional commercial investment properties in the D.C. metropolitan area, announces the sale of 2335 18th Street NE, a two-level flex/industrial property with 24 on-site parking spaces. The property was delivered 100% vacant at the time of sale and sold for $4,050,000, or $210.86 per square foot of building. During Feldman Ruel’s extensive collaborative marketing process, numerous qualified offers were generated, resulting in a closing at 98.8% of the asking price. Ryan Smith, Josh Feldman, and Ian Ruel of Feldman Ruel had the exclusive listing to market the property on behalf of the seller.
Prior to vacating the property at closing, 2335 18th Street NE was home to the family owned and operated Blaydes Lock and Security, the largest specialty key and lock distributor in the Washington, D.C. metro area. The seller had occupied the property since 1952 and, after 70 years in operation, the family collectively decided to retire from the business.
The buyer, Center City Public Charter School, was represented by Braden Isaac, Faraji Whalen-Robinson, and Anthony King of Civitas Commercial Real Estate Services. The buyer acquired the property for the purpose of converting it into another charter school campus. Center City Public Charter School currently operates seven other campuses all of which are located at properties leased from the Catholic Church. 2335 18th Street NE will be the first of its campuses owned by Center City Public Charter School itself.
About Feldman Ruel
Feldman Ruel Urban Property Advisors is a boutique commercial real estate services firm focused primarily on sub-institutional investment sales and property management in the Washington, D.C. metropolitan area and is consistently recognized as a market leader in the industry. Feldman Ruel successfully completes dozens of transactions every year making it one of the top investment sales brokerage firms in the area. The experience and relationships resulting from hundreds of successful transactions allow the principals and agents of Feldman Ruel to provide its clients with the most accurate valuations, most effective multichannel marketing, and best advisory services available in its practice areas.
