Akridge Takes Boutique Office for $13M

WASHINGTON, DC-Akridge snaps up the 38,300-sf office building at 1016 16th St. NW for $12.5 million. The site is three blocks north of the White House.

By Barbra Murray | April 26, 2006 at 11:30 AM

The building and the one-fifth-acre parcel it occupies have a current assessed value of nearly $7.2 million, according to District real estate records. The 1920s-era structure sits three blocks north of the White House.

Akridge just took over property management and leasing responsibilities at the building yesterday. It plans to renovate and reposition the building, and market the space as for-sale office condominium units. Akridge will also consider selling entire floors or the entire building.

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