Big news here.
Michael Neibauer
Associate Editor
Washington Business Journal
An affiliate of the Ronald D. Paul Cos. has sold the Exxon station at 1 Florida Ave. NE to the owner of an adjoining property, who is expected to redevelop its assemblage into apartments over retail.
One Florida Acquisition LLC, an affiliate of Aria
Development Group, paid $25.5 million for the 25,000-square-foot station
property at the corner of Florida Avenue and North Capitol Street NE. The
Ronald D. Paul Cos. had previously planned to redevelop the lot as a 230,000-square-foot
apartment building over 7,500 square feet of retail, according to the NoMa
Business Improvement District.
Ron Paul, the company’s president, declined to
comment.
…
An image of the Exxon station from Google search
2 comments:
First time Ron Paul has ever declined to comment! :-p
Aria already owns the parking lot next door to the gas station, too. I’ve also heard that the recently demolished structure fronting P St (the property backs up to the gas station) had also been acquired. I’ve also been told they’ve approached the Refuge of Hope church/properties that those properties surround. “Assembling for something big” sounds on point.
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