At 11-stories high, the building houses 181,740 sf of space andis currently leased to full capacity. "We are pleased to completethe acquisition of this quality, well-leased office building,"American Asset Manager Greg Blomstrand says in a statement. "Bypurchasing the asset at a discount to replacement cost, theproperty fits well within the institutional portfolio that we havedeveloped for our client and will produce strong annual cashflow."
Constructed 13 years ago, the building is part of the UnionCenter Plaza in the District's Capitol Hill area. The location nearthe local train station and the US Capitol is considered one of thestronger office markets in the nation at this time.
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