Oakland, Calif.-based Kaiser Permanente has acquired 507,237 square feet of medical office space in Washington, D.C., for $198 million, according to a Nov. 20 report from Commercial Property Executive.
Kaiser Permanente was already leasing 200,000 square feet of space inside of the 10-story tower, which was previously owned by Property Group Partners.
It has been occupying space in the building since 2011, but the building's other tenants, the American Chemistry Council and the Securities and Exchange Commission, have decided not to renew their leases, opening up space for new Kaiser offices.