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Onward Investors Acquires DC Office Building
Minneapolis-based Onward Investors has taken ownership of 100 M Street SE in Washington, D.C., a 12-story, 240,500-square-foot corner office building in the Capitol Riverfront district.
Houston-based Lionstone Investments sold the property, with Onward buying the building and ground lease for $53.9 million. A joint venture of Lionstone and Hermes Real Estate acquired the property in 2014 for $78.8 million.
“We are excited to formally take ownership of this well-positioned property with best-in-class amenities in one of the most vibrant, amenity-rich submarkets in D.C.,” said Jon Lanners, Partner at Onward Investors. “We look forward to continuing to ensure 100 M remains one of the premier office assets in the Navy Yard during our ownership period.”
Currently, 78% leased with approximately 16,000 square feet of contiguous availability, the property features a suite of amenities, including a new rooftop terrace with river views, a new tenant lounge and a new conference center.
