99M in WashingtonDC

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WASHINGTON DC – Skanska has announced the sale of the 11-story,class-A office development, 99M, in Washington DC, to an affiliateof Polinger Development Company.

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The 234,000-square-foot, LEED Gold certified building featuresnumerous amenities, such as a 4,750-square-foot rooftop terrace, a4,300-square-foot fitness facility, a secure bicycle storage roomand customizable workspaces. The asset additionally boasts morethan 10,000 square feet of ground-floor retail; hosting tenantssuch as Bluestone Lane Coffee, El Bebe, Circa and Wells Fargo.

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Located in the city's Capitol Riverfront neighborhood, near AudiField, the property is situated between the Navy-Yard-BallparkMetro Station access points and is surrounded public spaces such asThe Yards Park and Canal Park.

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Within the past year, Skanska signed new office leases at thebuilding with CommonGrounds Workplace, the Organization forInternational Investment (OFII), GiveCampus and GrayRobinson. Thebuilding is currently 93% leased to a diverse mix of companies,with additional office tenants representing the financial, lobbyingand international development industries.

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Newmark Knight Frank's executive managing directors, Jud Ryanand James Cassidy represented Skanska in the sale.

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An active developer within the region, this disposition servesas Skanska's latest transaction within Washington DC. The firm'sadditional current developments include The Heming, a 410-unitluxury multifamily development in Tysons, VA; 1700M, aground-up, office development on a 34,000-square foot land parcelin Washington DC's central businessdistrict; and 3901 North Fairfax Drive, a201,000-square-foot office building development with 10,280square-feet of ground-floor retail in Arlington, VA.

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A global development and construction company, Skanska's USoperations, headquartered in New York City, include construction,civil infrastructure and self-financed commercial propertydevelopments.

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.