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WASHINGTON, DC-A $135-million deal has left the class A office property at 1325 G St. with a new owner. Behringer Harvard REIT I Inc. acquired the 306,600-sf building from Broadway Partners, which bought the property last summer for $109.8 million.

The seller, which relied on Cassidy & Pinkard’s Bill Collins, Paul Collins and Drew Flood to orchestrate the sale, began a renovation program soon after the purchase. According to district records, the 10-story structure and the nearly one-acre parcel it occupies in the city’s East End submarket have a total current assessed value of $74.7 million.

It was in 1969 that, two blocks from the White House, 1325 G St. was originally developed. In addition to its most recent upgrades, the building, which features a five-level underground parking facility, was renovated in 1997. Today, the tenant roster accounts for 97% of the space, with the US government occupying 20% of the building. Other tenants include Medill News Service, National Louis University/Gestalt Partners Training Center and NeighborWorks America.

For Behringer, the acquisition marks the national real estate investment sponsor’s second investment in the District. Last year the company acquired the 127,600-sf Colorado Building, which is just up the block at 1341 G. St. “In addition to providing parking for the Colorado Building, we have a potential opportunity to enhance the value of these assets by ultimately selling them as a portfolio,” Behringer Harvard chairman and CEO Robert M. Behringer says. “A future buyer would have the ability to control a substantial portion of a city block in an irreplaceable location in our nation’s capital.”

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