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Commercial Real Estate News

Capital One building on Delaware Avenue sells for $34 million

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A month after Capital One announced its plans to consolidate its 2,200 employees at 800 and 802 Delaware Avenue, 802 Delaware Avenue has changed hands for $34 million.

The sale between EQC, a Maryland real estate investment trust and CODE001, a Delaware LLC, was recorded on May 24.

The price for the 14-story building is higher than comparable office buildings in the area and even $2 million more than Buccini/Pollin paid for the Dupont Hotel-Chemours block.

Capital One’s 10-year lease for the entirety of the building was likely a factor in the price.

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