WASHINGTON, DC—1200 Seventeenth St., NW, a170,000-square foot spec, trophy-class office building developed byAkridge and Mitsui FudosanAmerica has delivered – and with only 80,000-square feetleft available.

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The two companies decided to build it on spec during it a time,it must be noted, that precious few developers were taking a chanceon spec office, even in the District.

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It then inked a lease for 105,000 square feet in 2013 withPillsbury Winthrop Shaw Pittman, bringing thebuilding to 63% pre-leased at that point.

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1200 17th St., NW, joins DC's array of trophy offices. Designedfor LEED Platinum, which the developers say it is on its way toachieving, the building features glass on all four sides and arooftop event space on a landscaped green roof. Its sustainablebuilding techniques have created a 40% reduction in water use andused 20% recycled content. It also recycled over 75% of theconstruction waste generated. The building will generate 35% of itspower from green power sources and its dedicated outside air systemaverages 33% more efficiency than a conventional system.

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Zimmer Gunsul Frasca Architects LLP is theproject architect, and Balfour Beatty was thegeneral contractor.

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A few months prior to the Pillsbury lease, one of the originaldevelopers in this deal, First Potomac RealtyTrust, sold its share of the project, a 95% stake, for$43.4 million to Mitsui Fudosan. It, along with Akridge, acquiredthe building for $37.6 million from the National RestaurantAssociation. Shortly after First Potomac and Akridge acquired thebuilding they petitioned a permit to demolish the office there tobuild a better, greener building. The development costs have beencited at $100 million.

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