Harbor Group International has sold the home of CNN's Washington bureau for $140.5 million.
The Norfolk-based real estate investment firm, with investors Capstone Equities and Image Capital, bought the office building at 820 First St., N.E., nearly four years ago for $107 million.
On Friday, Harbor Group said it sold the building to Japanese real estate investment firm Unizo Holdings Co. Ltd., which started buying up U.S. office buildings in 2013, beginning in Manhattan and most recently in Washington.
As of the end of March, Unizo owned six office buildings in the United States, in addition to 73 buildings in Japan.
A July research report from real estate brokerage firm CBRE Group in Washington said foreign investors represented 60 percent of all office building purchases in the first half of the year.
"D.C. has always been a mecca for foreign investment," said Revathi Greenwood, CBRE's director of research. She said the District ranked just behind Manhattan last year and the vast majority of the foreign buyers in the first half of the year were institutional investors looking to hold onto assets for longer periods of time because the region is a "stable gateway market."
Harbor Group spokesman Sid Bridge said CNN would remain a tenant in the building, which was 96 percent leased. Other tenants include professional services firm Accenture and the U.S. government.
In a statement, Harbor Group President T. Richard Litton Jr. said the firm had capitalized on a strong Washington office market and was "pleased with the timing of our exit."
The 11-story office building, built in 1990, sits just north of Union Station.
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