{"id":1004021126,"date":"2010-06-24T12:48:17","date_gmt":"2010-06-24T20:48:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004021126"},"modified":"2022-12-07T11:22:17","modified_gmt":"2022-12-07T19:22:17","slug":"in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\/","title":{"rendered":"In $180M Deal, TIAA-CREF Takes Washington\u2019s Evening Star Building"},"content":{"rendered":"

\u00a0<\/p>\n

\"\"<\/a>

Courtesy Flickr Creative Commons user dbking<\/p><\/div>\n

By: Paul Rosta, Senior Editor<\/p>\n

The nation\u2019s capital continues to draw eager office buyers. On\u00a0Wednesday, the giant institutional investor TIAA-CREF closed on the $180 million\u00a0acquisition of the Evening Star building from KanAm Grund, the Frankfurt-based investment manager, sources familiar with the deal confirmed today.<\/p>\n

Located at 1101 Pennsylvania Avenue NW, a few blocks from the White House and the National Mall, the fully leased 225,501-square-foot office property (pictured) was the long-time home of the newspaper known most recently as the Washington Star. The building was the newspaper\u2019s\u00a0 home when it went out of business in 1981. Tenants include Citigroup Inc., International Paper Co., the Federal Bureau of Investigation, and TIAA-CREF itself.<\/p>\n

The building\u2019s price is among the highest paid for an office property in Washington, D.C., this year, even though it hardly ranks among the city\u2019s newest office assets. Built in 1898, the Evening Star building is said to be the second-oldest building on Pennsylvania Avenue after the White House. In 1989, the property underwent expansion and renovation.<\/p>\n

Several other high-profile office buildings in Washington have traded recently. In May, Edge Fund Advisors bought the 381,000-square-foot building at 1350 I Street NW for $209 million on behalf of several clients. Across the Potomac River in Arlington, Va., AEW Core Property Trust purchased Three Ballston Plaza in March for about $122 million. And last December, Edge paid Brookfield Properties Corp. $203.4 million for a 90 percent interest in 1625 I Street in Washington.<\/p>\n

Sources familiar with the transaction\u00a0confirmed that KanAm Grund\u00a0was represented by a team from Jones Lang LaSalle Inc. , which\u00a0included John Kevill, Collins Ege, Jim Molloy, Steve Collins and Sean McDermott.<\/p>\n","protected":false},"excerpt":{"rendered":"

TIAA-CREF closed Wednesday on the $180 million acquisition of Washington, D.C.’s venerable Evening Star building.<\/p>\n","protected":false},"author":445,"featured_media":1004021129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,11,21742],"tags":[],"class_list":["post-1004021126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midatlantic","category-latest"],"acf":[],"yoast_head":"\nIn $180M Deal, TIAA-CREF Takes Washington\u2019s Evening Star Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In $180M Deal, TIAA-CREF Takes Washington\u2019s Evening Star Building\" \/>\n<meta property=\"og:description\" content=\"TIAA-CREF closed Wednesday on the $180 million acquisition of Washington, D.C.'s venerable Evening Star building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-06-24T20:48:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T19:22:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/Evening-Stardbking1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"343\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul Rosta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/\"},\"author\":{\"name\":\"Paul Rosta\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ed97e8245f278ce01a7b951f706152af\"},\"headline\":\"In $180M Deal, TIAA-CREF Takes Washington\u2019s Evening Star Building\",\"datePublished\":\"2010-06-24T20:48:17+00:00\",\"dateModified\":\"2022-12-07T19:22:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/\"},\"wordCount\":294,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/06\\\/Evening-Stardbking1.jpg\",\"articleSection\":[\"Finance\",\"Mid-Atlantic\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/in-180m-deal-tiaa-cref-takes-washingtons-evening-star-building\\\/\",\"name\":\"In $180M Deal, TIAA-CREF Takes Washington\u2019s Evening Star Building - 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