Grosvenor Americas Renovates 1701 Pennsylvania Ave., Adds Three New Tenants
- Nov 25, 2014
By Adrian Maties, Associate Editor
Grosvenor Americas recently completed the renovation of its trophy office building at 1701 Pennsylvania Ave., N.W. The property now features a new, modern HVAC system.
The 12-story skyscraper was constructed in 1962. Located within the city’s central business district, it offers almost 200,000 square feet of space and houses Grosvenor’s East Coast office on the 10th floor. Grosvenor purchased the property in 1986 and has since invested $16.7 million into architectural modernization and building system renovations. Last year, 1701 Pennsylvania Ave. earned LEED-EB Gold certification.
“The new work includes a $7.5 million HVAC modernization that replaced the building’s existing perimeter heat pumps with a fully automated, quieter and more energy-efficient VAV-based system,” D.J. Sworobuk, Grosvenor’s vice president of portfolio management, said in a statement for the press. Grosvenor also said it is upgrading the building’s fitness center and the waiting lounge for its secure underground valet parking garage. The company did not disclose the cost of the renovation project.
The property also signed three new tenants. Occidental Petroleum, FoxKiser and JAB Holdings have signed leases in the building for a total of 29,300 square feet of space. Cushman & Wakefield Inc.’s Mark Richardson and Jackie Raff brokered the deal.
JAB Holdings is the parent company of such brands as Jimmy Choo, Bally and Peet’s Coffee and has selected the site for its new Peet’s Washington, D.C., “flagship” store. Potbelly Subs also occupies street-level space in the building.
Photo credit: www.1701pennsylvania.com