WASHINGTON, DC–Japanese investor Unizo has closed on its acquisition of 1111 19th St., NW, which it first announced in August. The 263,393-square foot building traded from Clarion Partners for $203 million.
The 12-story building, originally constructed in 1979, will be the future location for a Wawa store.
ING Clarion Partners LLC acquired 1111 19th St. NW on behalf of clients, for $115 million from the Blackstone Group in 2008. According to Unizo's original announcement that it was buying the property, 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 has closed on its acquisition of 1111 19th St., NW, which it first announced in August. The 263,393-square foot building traded from Clarion Partners for $203 million.
The 12-story building, originally constructed in 1979, will be the future location for a Wawa store.
ING Clarion Partners LLC acquired 1111 19th St. NW on behalf of clients, for $115 million from the Blackstone Group in 2008. According to Unizo's original announcement that it was buying the property, 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.
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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.
