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Capitol Hill Area Building Sells for $34.5 Million

WASHINGTON, DC-American Realty Advisors of Glendale, California pays $34.5 million for the Capitol Hill area's 810 First St. building. The purchase is made on behalf of one of American's pension fund clients.

By Barbra Murray | Updated on December 18, 2001

WASHINGTON, DC-Glendale, California’s American Realty Advisors has purchased the structure at 810 First Street in a $34.5 million deal. The acquisition was made on behalf of one of the company’s public pension fund clients.

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.”

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