MFA Takes 95 Percent Interest in D.C. Office Development Venture

NEW YORK—New York City-based Mitsui Fudosan America Inc. (MFA), the U.S. operations of a Japanese real estate company, has purchased 95 percent interest in a joint venture with Akridge, a full service real estate firm, to develop a 170,000-sq.-ft. office building at 1200 17th Street NW in Washington, D.C. It is MFA’s second investment in the D.C. market this year.

Previously, MFA and Akridge have partnered on other D.C. properties.

The 1200 17th Street provides tenants with access to the Metrorail’s Orange, Blue and Red mass transit system.

Formerly occupied by the national Restaurant Association, the building that was situated at 1200 17th Street is currently being demolished. Delivery of the new building to take its place is slated for the end of 2014.

Development plans for the new building include LEED Platinum certification, broad-column spacing, rooftop terrace and a fitness center.

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