A high-end office building overlooking Franklin Square in the District is slated to be sold at a foreclosure auction next month, the latest sign of distress for commercial real estate owners across Greater Washington due to stubbornly elevated office vacancy rates and a slowdown in new leasing activity.

Harvey West Auctioneers has scheduled a March 10 substitute trustee’s sale of the nearly 400,000-square-foot 1350 Eye St. NW, which is substantially vacant following the loss of a number of tenants, including law firm Beveridge & Diamond and the Consumer Brands Association, formerly known as the Grocery Manufacturers Association. The building is also one of several impacted by the bankruptcy of fast-casual Mediterranean restaurant Leon USA Inc. It houses about 290,000 square feet of vacant space in all, per a listing that JLL (NYSE: JLL) posted to CoStar Group Inc. (NYSE: CSGP).

https://www.bizjournals.com/washington/news/2021/02/17/edge-funds-faces-foreclosure-sale-at-1350-eye.html