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DENVER-The Amstar Group, a privately held investment group in Denver, has purchased the 1425 New York Avenue building in the East End submarket of Washington, DC’s central business district.

Amstar has picked up 13-story, 270,000-sf class A tower from an affiliate of Nomura Real Estate USA. “This premier office building is strategically located in the heart of Washington, DC … less than two blocks from the White House,” says D. Scott Gibler, Amstar’s executive director of Office Investments. It is positioned in an area abounding with support services representative of all sectors.

The US Treasury Department and Department of Defense practically rent the entire building, which features exterior and interior office balconies that overlook a large atrium. The eight-year-old building boasts reflective windows and polished granite accents with textured exterior granite walls. It also has four levels of structured parking.

Gibler says Washington, DC, has enjoyed double-digit rental rate increases over the past couple of years and the 1425 New York Avenue building will benefit from future lease rollovers.

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