Full-service real estate firm Akridge and Mitsui Fudosan America, the U.S. subsidiary of Mitsui Fudosan Co., Japan’s largest publicly traded real estate company, celebrated the groundbreaking of a new trophy-class office project at 1200 17th St. on March 26. Mitsui Fudosan America CEO Yukio Yoshida, Pillsbury Winthrop Shaw Pittman Managing Partner Christina Kearns, and Akridge Chairman Chip Akridge and Senior Vice President P. Brian Connolly spoke at the event.
1200 17th St. will total 168,000 square feet and will be located near the red, blue and orange Metro lines in Washington, D.C.’s central business district. It will feature contemporary finishes, with column-free client space, efficient floor plates, floor-to-ceiling glass and state-of-the-art amenities such as a full-service client-only fitness center, a green roof with entertainment space, bike storage and changing facilities, and ground-floor retail.
The boutique building is 63 percent pre-leased, with law firm Pillsbury Winthrop Shaw Pittman L.L.C. signing a 105,000-square-foot lease there in January. Four floors, totaling almost 60,000 square feet, remain available.
“This groundbreaking underscores the strength of the Washington real estate market and our city’s economy. The coming together of Mitsui Fudosan America, Pillsbury and Akridge demonstrates that true professionals, working together, will create the trophy-quality office building that Washington deserves,” said Connolly in a statement for the press.
1200 17th St. is targeting LEED Platinum certification. It was designed by Zimmer Gunsul Frasca Architects L.L.P. and will have Balfour Beatty as general contractor. The project is expected to be completed in the fourth quarter of 2014.
Mitsui Fudosan America joined Akridge on the project in August of last year, when it acquired First Potomac Realty Trust’s 95 percent stake in the property for $43.7 million. And it wasn’t the first project the two companies had partnered on. They also joined forces on 700 Sixth St., 1090 Vermont Ave. and The Homer Building at 601 13th St., N.W.
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