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Meritage Properties JV buying Washington office building for $54M

Meritage Properties is buying the 1100 G St. NW office building across from Metro Center in Washington, D.C., for $54 million, in partnership with a Japanese institutional investor, the Washington Business Journal reported, citing Meritage CEO Andrew Nathan and the D.C. Recorder of Deeds.

The 110,000-square-foot, 11-story property previously changed hands in 2008 to a partnership between J Street Cos. and UBS Global Asset Management. J Street left the partnership years ago, the report noted.

The building was originally built in 1969, according to the May 18 report.