Bruce Baschuk, president of J Street and former managingdirector of CB Richard Ellis' Washington office, has purchased thestock of Randall Hagner Limited from the Hagner family and otherstockholders in the company as part of the deal. Other terms of thetransaction, including acquisition price, have not beenreleased.

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The combined firm has 160 employees and grossed approximately$20 million in fees last year, according to a press release.

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J Street is currently developing two sites north ofMassachusetts Avenue, or the so-called NoMA neighborhood. It saysit is negotiating to acquire several other properties as well. Thecompany will maintain the Randall Hagner brand for the timebeing.

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"Many regional real estate firms have disappeared, and we arecountering this trend by creating a strong regional company that islocally based and owned in the best market in the country," Baschuksays in a statement. "We wanted to broaden our capabilities intoreal estate services, and Randall Hagner wanted to grow itsbusiness, so this transaction is a strategic fit for bothorganizations."

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