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BXP has acquired 725 12th Street, a 300,000-square-foot, 12-story property in the East End of Washington, DC, for $34 million. BXP plans to demolish and redevelop the property into an approximately 320,000-square-foot workplace. In conjunction with closing, BXP has executed an approximately 150,000-square-foot lease with global law firm McDermott Will & Emery for the top five floors of the newly constructed trophy property and is currently negotiating with a client for the majority of the remaining space.