Jemal Equities Acquires Dupont Circle Office Building from BXP for $92.3 Million

BXP has sold a 254,000-square-foot office building located at 1330 Connecticut Avenue NW in Washington, D.C.'s Dupont Circle for $92.3 million. The buyer is an affiliate of Jemal Equities, with Burke & Herbert Bank & Trust providing $72.5 million in financing for the transaction. This acquisition represents Jemal Equities' fourth D.C. office purchase in approximately 14 months, bringing their total investment in the market to nearly $227 million. Earlier this year, the firm acquired properties at 99 M Street SE and the Lion Building at 1233 20th Street NW, following a 2025 purchase at 1750 H Street NW.

For BXP, a Boston-based real estate investment trust, this disposition aligns with a broader strategy to shed older D.C. office assets. The capital generated is being redirected towards new trophy office developments, including projects at 725 12th Street NW and 2100 M Street NW, both of which are pre-leased to law firms and represent the only new private office construction in D.C.'s current pipeline. This transaction highlights a strategic repositioning by major players in the D.C. office market, with some firms consolidating older assets and others investing in new, high-demand developments.