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CIM affiliate sells Union Square complex in Washington, DC, for $181M

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CIM affiliate sells Union Square complex in Washington, DC, for $181M

An affiliate of CIM Commercial Trust sold an office complex in Washington, D.C.'s Union Square for $181 million to Network Realty Partners and USAA Real Estate, the Washington Business Journal reported.

The company agreed to sell the complex in June.

The complex includes two nine-story buildings at 899 and 999 N. Capitol St. NE, 90% leased and totaling around 625,500 square feet, and a development site 901 N. Capitol St. NE. The company will evaluate the construction of a 12-story office building with about 270,000 square feet of space at the site.