{"id":1004394056,"date":"2020-02-24T05:43:17","date_gmt":"2020-02-24T13:43:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004394056"},"modified":"2020-02-24T05:43:17","modified_gmt":"2020-02-24T13:43:17","slug":"lincoln-property-jv-acquires-dc-office-asset-for-35m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/","title":{"rendered":"Lincoln Property JV Acquires DC Office Asset for $35M"},"content":{"rendered":"<div id=\"attachment_1004394059\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004394059\" data-attachment-id=\"1004394059\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/1313-l-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1313 L Street\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1313 L Street. &lt;i&gt;Image courtesy of JLL&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg?w=800\" class=\"wp-image-1004394059 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004394059\" class=\"wp-caption-text\">1313 L Street. <i>Image courtesy of JLL<\/i><\/p><\/div>\n<p>The National Association for the Education of Young Children (NAEYC) has sold 1313 L Street, an 84,040-square-foot office property in Washington, D.C. A partnership between Lincoln Property Co. and Cadillac Fairview purchased the building for $34.7 million, according to public records. JLL Capital Markets represented the seller and procured the buyer.<\/p>\n<p>The joint venture completed the acquisition with a $27.7 million self-financed loan. The buyer plans to redevelop the building into a Class A residential property. The asset last traded in 2004 when NAEYC acquired it from Service Employees International Union for $20.9 million, according to Yardi Matrix.<\/p>\n<p>Completed in 1984 and renovated in 2011, the six-story property is located&nbsp;at 1313 L St. NW in Washington\u2019s central business district. All six metro-rail lines are available within walking distance. Additionally, the building is near the intersection of Vermont and Massachusetts avenues and less than a mile from Interstate 395.<\/p>\n<p>JLL\u2019s Dek Potts, Susan Carras, Walter Coker and Brian Crivella brokered the deal. Rich Lane and Eric West of West, Lane &amp; Schlager will assist NAEYC in finding a new headquarters.<\/p>\n<p>Lincoln Property Co. is also active in western U.S. markets. Earlier this month, the firm partnered with Clarion Partners in&nbsp;the <a href=\"https:\/\/www.commercialsearch.com\/news\/clarion-partners-lincoln-property-close-169m-office-buy\/\">$169 million acquisition<\/a> of Jefferson Creative Campus, a 152,146-square-foot office park in Los Angeles.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The partnership plans to redevelop the site into a Class A residential property.<\/p>\n","protected":false},"author":867,"featured_media":1004394059,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21747,1615],"tags":[48794,48797,32796,32838,48800],"class_list":["post-1004394056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-cadillac-fairview","tag-dek-potts","tag-jll","tag-lincoln-property-company","tag-walter-coker"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lincoln Property JV Acquires DC Office Asset for $35M - 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\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lincoln Property JV Acquires DC Office Asset for $35M\" \/>\n<meta property=\"og:description\" content=\"The partnership plans to redevelop the site into a Class A residential property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/\" \/>\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=\"2020-02-24T13:43:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/\",\"name\":\"Lincoln Property JV Acquires DC Office Asset for $35M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\",\"datePublished\":\"2020-02-24T13:43:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/caac04e9f88552f7c898ba456c2498d8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-jv-acquires-dc-office-asset-for-35m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/02\/1313-L-Street.jpg\",\"width\":800,\"height\":620,\"caption\":\"1313 L Street. 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