Akridge Plans to Turn Two D.C. Buildings into One
- Sep 25, 2015
Longtime D.C. developer Akridge has a vision: It wants to turn two of the city’s office buildings into one. The new freestanding property will be marketed to any company looking for trophy space in the region.
On Thursday, September 17, Akridge announced the signing of two purchase agreements with the American Beverage Association and the American Association of University Women that will allow it and its partner, Stars Investments, to turn the office buildings at 1101 and 1111 16th St., N.W., into a single property. When finished, in 2017, the new 100,000-square-foot building will offer its tenants numerous amenities, including a fitness center, a rooftop terrace and ample parking, all within walking distance of the new Fannie Mae headquarters and the White House.
Eric Berkman, Steve Gichner and John Boland of Cushman & Wakefield Inc. brokered the transaction on behalf of the two sellers.
“The success of our recent redevelopment at 1200 17th St. has demonstrated the strong demand for high-quality and efficient office space. We believe redeveloping 1101 and 1111 16th St. into a freestanding, trophy office building will respond to the demand for quality product,” Matt Klein, president of Akridge, explained in a statement. “The project will complement the historic character of 16th Street and will appeal to law firms, associations and government affairs clients who appreciate a floor plan that maximizes windowed offices, as well as the impressive location near the White House and the city’s best hotels.”