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WASHINGTON, DC-A 12-story, 291,838-sf office building in the North of Massachusetts (NoMa) submarket has traded for $94.5 million. Located at 1200 First St., the building was purchased by Apollo Real Estate Advisors Value Enhancement Fund VI from a partnership that included Stephen A. Goldberg. Bill Collins, Paul Collins, Drew Flood and Jud Ryan of Cassidy & Pinkard Colliers represented the seller.

Capitol Plaza I delivered in November. Designed by Shalom Baranes Associates, it is located on the corner of M and First streets and across the street from the New York Avenue Metro Station. A major selling point of the property is its location in the latest area in the District to undergo redevelopment. NoMA was recently approved as a new Business Improvement District by the District of Columbia Council, as reported by GlobeSt.com.

Development and leasing activities are ramping up quickly, according to NoMA BID representatives. For instance, leasing is under way for an 8,000-sf convenience retail center that is part of the new headquarters of the US Bureau of Alcohol, Tobacco, and Firearms at Florida Avenue and Second Street, also across the street from the New York Avenue Metro. GSA contracted with a partnership of Capital Retail Group and LeDroit Park Development to lease and manage the retail center for the next 10 years.

Capital Retail Group’s Robert Tack tells GlobeSt.com that the first tenants will be moving in by early summer and fall, around the same time that the ATF employees will be moving into their newly delivered 438,000-sf facility.

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