At 11-stories high, the building houses 181,740 sf of space and is currently leased to full capacity. "We are pleased to complete the acquisition of this quality, well-leased office building," American Asset Manager Greg Blomstrand says in a statement. "By purchasing the asset at a discount to replacement cost, the property fits well within the institutional portfolio that we have developed for our client and will produce strong annual cash flow."
Constructed 13 years ago, the building is part of the Union Center Plaza in the District's Capitol Hill area. The location near the local train station and the US Capitol is considered one of the stronger office markets in the nation at this time.
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