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Unizo Enters $203 Million Agreement to Purchase Blackboard's HQ Bldg. in NW D.C.

Japanese Real Estate Group Lines Up Another Significant Investment in Pending Deal with Clarion Partners
August 9, 2017
Unizo Holdings Co. is set to invest an additional $203 million into the Washington, D.C. office market following news the Japan-based real estate group entered into an agreement with Clarion Partners to acquire the office building at 1111 19th St. NW.

Since March 2016, Unizo has invested more than $1 billion to acquire eight office buildings in Washington, D.C., closing on the Longfellow Building, CNN Building, 1100 1st St. NE, The Executive Building, Capitol View Building and most recently, 1325 and 1341 G St. NW. The company's acquisition of 1111 19th St. NW will mark Unizo's third investment in D.C. this year, and is scheduled to close sometime between September 17th-October 4th.

Completed in 1979, 1111 19th St. NW is a 271,369-square-foot, 12-story building located on a .6-acre site at the corner of L and 19th Streets and within three blocks of the Farragut West and Farragut North metro stations in D.C.'s central business district.

Extensively renovated in 2014, the Heery International-designed property houses the headquarters for Blackboard, which took occupancy of roughly 71,000 square feet in 2015, as well as offices for The Washington Institute for Near East Policy, Results for Development Institute and Ogilvy Public Relations Worldwide.

The building also includes street-level retail space set to house the D.C. flagship store of Pennsylvania-based convenience store and sandwich shop, Wawa. The location, set to be Wawa's largest at nearly 10,000 square feet and the East Coast chain's first in D.C., is scheduled to open this December.

William Collins, Paul Collins, Shaun Weinberg, Drew Flood, Erick Berkman and Kevin Sidney are handling negotiations on behalf of Clarion Partners, which acquired the asset nearly a decade ago from The Blackstone Group for $115 million.
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