St. Joe Acquires 1133 20th St. NW

WASHINGTON, DC-St. Joe Commercial has acquired 1133 20th St. NW from Northwestern Mutual Life Insurance Co. for an undisclosed sum. The eight-story building has 118,300 sf of space and is 99%leased. In a statement, St. Joe said major tenants include Chemonics, a consulting firm for developing countries, and The Brattle Group, an economic and environmental management consulting firm.

Financing for the deal came from money made on conservation land sales in northwest Florida and other company revenue that is being redeployed into commercial properties along the East Coast. With this deal, St. Joe now owns just over two million sf of space from South Florida to the District. St. Joe, which is based in Jacksonville, FL, has also developed over 3.5 million sf of commercial and industrial space. At present, it has more than one million sf of space under development throughout Florida.