WASHINGTON, DC–Japanese investor Unizo is making another purchase in the District, according to an announcement by the company. It is acquiring 1111 19th St., NW, from Clarion Partners for $203 million.
The 263,393 square foot, 12-story building, originally constructed in 1979, will be the future location for a Wawa store.
ING Clarion Partners acquired 1111 19th St. NW on behalf of clients, for $115 million from the Blackstone Group in 2008.
According to Unizo, the reason for the acquisition is that it is a “prime income-generating property investment.”
Unizo was the second largest foreign investor in the DC area for the first quarter having made a total of $407 million in deals here. In January it closed on Capitol View for $148 million. It also acquired 1325 G St., NW and 1341 G St., NW, for a total of $259 million.
WASHINGTON, DC–Japanese investor Unizo is making another purchase in the District, according to an announcement by the company. It is acquiring 1111 19th St., NW, from Clarion Partners for $203 million.
The 263,393 square foot, 12-story building, originally constructed in 1979, will be the future location for a Wawa store.
ING Clarion Partners acquired 1111 19th St. NW on behalf of clients, for $115 million from the Blackstone Group in 2008.
According to Unizo, the reason for the acquisition is that it is a “prime income-generating property investment.”
Unizo was the second largest foreign investor in the DC area for the first quarter having made a total of $407 million in deals here. In January it closed on Capitol View for $148 million. It also acquired 1325 G St., NW and 1341 G St., NW, for a total of $259 million.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
