Search
 

UrbanAmerica Acquires 1500 Franklin St. for $2.5 Mil

WASHINGTON, DC-The three-story, mixed-use building brings the investment firm's local holdings to over 500,000 sf of property worth about $50 million. UrbanAmerica specializes in acquiring and developing properties in low- to moderate-income communities.

By John Howe | Updated on June 13, 2001

WASHINGTON, DC-UrbanAmerica LP has acquired 1500 Franklin St., N.E. here for approximately $2.5 million. The three-story, 15,000-sf mixed-used building is anchored by an Enterprise Rent-a-Car and the District of Columbia Government Office of Employment Services. The facility is 100% leased.

This transaction brings the firm’s holdings in metropolitan Washington, DC to more than 500,000 sf worth about $50 million. This is the fifth purchase UrbanAmerica has made in the metropolitan area during the last year. The other four properties are shopping centers ranging in size from 44,000 sf to 244,000 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.