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Thursday, September 06, 2018

so the Exxon at Florida Ave NE and North Capitol St NE has been sold; "the new owner is assembling lots for something big"

Click on the link to read the entire Washington Business Journal article.

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
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2 comments:

  1. RobThursday, September 06, 2018 1:02:00 PM

    First time Ron Paul has ever declined to comment! :-p

    ReplyDelete
  2. The AMTThursday, September 06, 2018 9:02:00 PM

    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.

    ReplyDelete