{"id":1004122070,"date":"2015-06-26T07:29:24","date_gmt":"2015-06-26T15:29:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004122070"},"modified":"2021-05-15T08:32:41","modified_gmt":"2021-05-15T16:32:41","slug":"rockefeller-mitsubishi-trade-big-in-dc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/","title":{"rendered":"Rockefeller, Mitsubishi Time D.C. Market"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Courtesy

Courtesy Google Maps.<\/p><\/div>\n

It\u2019s official: the Rockefeller Group U.S. Premier Office Fund LP<\/a> and Mitsubishi Estate New York<\/a> have completed the sale of the office building at 1101 K St. NW in Washington, D.C. According to a source with knowledge of the deal, the joint venture partners sold the premier 292,000-square-foot property to UBS<\/a> for approximately $260 million.<\/p>\n

The Rockefeller\/MENY joint venture had owned the Davis Carter Scott-designed 1101 K St. since 2011, when it picked up the downtown D.C. property for $199 million<\/a> from its developers, JBG Cos.<\/a> and Rockwood Capital<\/a>. The partners have since taken the occupancy level at the 10-story tower, originally developed in 2006, from 80 percent to roughly 96 percent.<\/p>\n

Class A building, prime location, a near full tenant roster\u2014Rockefeller\/MENY had every reason to follow through with its projected hold period. But timing is everything, and office property values in D.C., right now are hard to ignore.<\/p>\n

Indeed, office transactions in the nation\u2019s capital have been carrying high price tags. In the largest sale of the first quarter, America\u2019s Square, a 466,000-square-foot complex, traded for $500 million, or $1,083 per square-foot.<\/p>\n

\"\"<\/a>

Atsushi Nakajima, President & CEO of Rockefeller Group<\/p><\/div>\n

Rockefeller, which had made its entr\u00e9e into the D.C. market with the acquisition of 1101 K, remains quite keen on the city, as well as other highly coveted locales.<\/p>\n

\u201cOur investors are positive about the prospects for core and core-plus properties in major U.S. markets, especially longer-term. From an investment perspective, we continue to focus on gateway markets, Washington, D.C., Boston, New York, San Francisco and L.A., looking for quality assets that can benefit from our operating expertise,\u201d Atsushi Nakajima, president and CEO of Rockefeller Group, told CPE<\/em>.<\/p>\n

And Rockefeller has construction on its mind as well. Nakajima added, \u201cOn the development side, we\u2019re pursuing office, industrial and residential opportunities on a broader scale and building on a speculative basis where the supply and demand equation gives us confidence in the near-term outlook.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Timing is everything, and current D.C. office valuations are hard to ignore. <\/p>\n","protected":false},"author":969,"featured_media":1004122071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,1615],"tags":[],"class_list":["post-1004122070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-washington-dc"],"acf":[],"yoast_head":"\nRockefeller, Mitsubishi Time D.C. Market - 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\/rockefeller-mitsubishi-trade-big-in-dc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rockefeller, Mitsubishi Time D.C. Market\" \/>\n<meta property=\"og:description\" content=\"Timing is everything, and current D.C. office valuations are hard to ignore.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/\" \/>\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=\"2015-06-26T15:29:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T16:32:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1496\" \/>\n\t<meta property=\"og:image:height\" content=\"1359\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Rockefeller, Mitsubishi Time D.C. Market\",\"datePublished\":\"2015-06-26T15:29:24+00:00\",\"dateModified\":\"2021-05-15T16:32:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/\"},\"wordCount\":357,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg\",\"articleSection\":[\"Investment\",\"News\",\"Washington D.C.\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/\",\"name\":\"Rockefeller, Mitsubishi Time D.C. Market - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg\",\"datePublished\":\"2015-06-26T15:29:24+00:00\",\"dateModified\":\"2021-05-15T16:32:41+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg\",\"width\":1496,\"height\":1359,\"caption\":\"Atsushi Nakajima, President & CEO of Rockefeller Group\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/rockefeller-mitsubishi-trade-big-in-dc\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rockefeller, Mitsubishi Time D.C. Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/barbra-murray\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rockefeller, Mitsubishi Time D.C. Market - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/","og_locale":"en_US","og_type":"article","og_title":"Rockefeller, Mitsubishi Time D.C. Market","og_description":"Timing is everything, and current D.C. office valuations are hard to ignore.","og_url":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-06-26T15:29:24+00:00","article_modified_time":"2021-05-15T16:32:41+00:00","og_image":[{"width":1496,"height":1359,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg","type":"image\/jpeg"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/"},"author":{"name":"Barbra Murray","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"headline":"Rockefeller, Mitsubishi Time D.C. Market","datePublished":"2015-06-26T15:29:24+00:00","dateModified":"2021-05-15T16:32:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/"},"wordCount":357,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg","articleSection":["Investment","News","Washington D.C."],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/","url":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/","name":"Rockefeller, Mitsubishi Time D.C. Market - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg","datePublished":"2015-06-26T15:29:24+00:00","dateModified":"2021-05-15T16:32:41+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg","width":1496,"height":1359,"caption":"Atsushi Nakajima, President & CEO of Rockefeller Group"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/rockefeller-mitsubishi-trade-big-in-dc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Rockefeller, Mitsubishi Time D.C. Market"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Nakajima-Atsushi-Rockefeller-Group-e1435611009351.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004122070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004122070"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004122070\/revisions"}],"predecessor-version":[{"id":1004533953,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004122070\/revisions\/1004533953"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004122071"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004122070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004122070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004122070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}