WASHINGTON, DC-New Boston Fund has acquired a67,000-square foot stake in J Street Properties’111 K St., NE building—that is, the company has bought theremaining space that has not been sold as office condos. J Streetdelivered the 11-story, approximate 90,000-square foot building inthe NoMA submarket with the plan of selling officecondos.

It did sell a few floors as office condos—the StudentAffairs Administrators in Higher Education purchased the10th floor, which is approximately 9,400 square feet, forexample—but the majority of the building is still vacant. NewBoston Fund declined to provide pricing for the purchase.

John Thompson, vice president and regionaldirector of acquisitions in New Boston Fund’s Mid-Atlantic office,tells GlobeSt.com that the company neverconsidered continuing with the office condo strategy. “We’re abuy-and-hold investor,” he says. The asking rate for the remainingspace, according to David Langol, vice presidentof Asset Management in the New Boston Fund’s Mid-Atlantic office,will be between the mid $40s to the upper $50s per square foot, netof electric. The rate will depend on which floor the tenantwants.