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FOR IMMEDIATE RELEASE:
J Street Development successfully completes NoMa block with purchase of 1111 North
Capitol, NE
Monday, October 3, 2005
On Monday, October 3, Principals of J Street Development (www.jstreetdevelopment.com)
in partnership with Westbrook Partners purchased 1111 North Capitol Street, NE in
the NoMa Corridor. (www.nomacorridor.com)
Comprised of 174,058 square feet, the building is fully leased to the Smithsonian
Institution, and is situated on a site of approximately 86,725 square feet fronting
North Capitol between Pierce on the north and L to the south. Completed in 1927, 1111
North Capitol is adjacent to First Place, at the corner of 1st & L Streets, NE,
also owned by J Street, in partnership with another entity. Across 1st Street from
this block, is the newly opened New York Avenue Metro Station.
The NoMa Corridor (www.nomacorridor.com),
offering 16 million square feet of development potential, is one of the last areas
in Washington, DC with large-scale development potential. Seven area developers and
property owners have joined together in an exciting and unusual partnership to maximize
the NoMa Corridor's full potential. They share the goal of making the area not only
the city's next area of real estate development, but also a vibrant 24-hour destination
for many of the District's residents and office tenants, while supporting and nurturing
the existing community. The neighborhood's initial boost came when XM Satellite Radio
made the "pioneering" decision to locate its headquarters in NoMa. The addition of
the new Red Line Metrorail Station at New York and Florida Avenues, and the ATF Headquarters
under construction, has made the Corridor ripe for change.
J Street is about Building values -- while creating value for investors,
J Street will work to enhance the value of neighborhoods in which it is involved.
The Company is committed to seeking partners, investors, employees, and opportunities
which share its vision.
Contact: Cathy Fawell
Director of Marketing & Communications
202-639-0339
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