Akridge, Mitsui Fudosan Complete 170 KSF Office Project in Washington, D.C.
- Sep 18, 2014
At 1200 17th St., N.W. in Washington, D.C., a new state-of-the-art office destination now holds court where a stodgy 1960s era office structure once stood. Akridge and Mitsui Fudosan America have just opened the doors of the new 1200 Seventeenth Street, a 170,000-square-foot model of sustainability and modern accommodations.
The partners haven’t disclosed the total development cost, but Balfour Beatty Construction had the $38 million contract for the construction of 1200 Seventeenth, which commenced in 2012 once the demolition of the existing eight-story structure was complete. The project had already gotten underway when Akridge’s then partner, First Potomac Realty Trust, sold its 95 percent share of the property to Mitsui Fudosan for $43.7 million.
The end result of the team’s work is an 11-story, ZGF Architects-designed building that qualifies for LEED Platinum certification with features such as 20 percent recycled content, water-saving fixtures that yield a 40-percent reduction in water use and a landscaped green roof.
“1200 Seventeenth Street is the perfect response to the priorities of the discerning Washington business–a highly efficient, column-free floor plate with four sides of floor to ceiling glass, thoughtful sustainability, and great architecture,” Matthew J. Klein, president of Akridge, noted in a prepared statement.
More than 60 percent of 1200 Seventeenth, located in the Golden Triangle Business Improvement District, was spoken for well in advance of its completion. Law firm Winthrop Shaw Pittman L.L.C. signed a lease for 105,000 square feet at the building in early 2013.
1200 Seventeenth will carry the distinction being the newest kid on the block for a little while, as there are no new office buildings scheduled for delivery in Washington, D.C., for the remainder of 2014, according to a report by commercial real estate services firm Newmark Grubb Knight Frank.