The building, owned by Minshall Stewart Properties, is one of a handful on K St. that began building out in response to unmet demand for space in the CBD a few years ago. While the boom times that spurred this development are clearly over, demand for CBD space is still relatively strong.
For instance, Minshall inked a lease with the European Commission last month to occupy approximately 50,000 square feet in the expanded building. Rich Lane, Eric West and Paul Hanafin of West, Lane & Schlager represented the tenant in the transaction. CBRE's Kevin Howard led a team that represented the building owner. One of the main reasons why the Delegation opted to move from its 15-year home at 2300 M St. was that it wanted more flexibility to configure its internal space--which the build out will provide, Lane tells GlobeSt.com at the time.
Other rehabs on K Street Corridor include ING Clarion's $30-million expansion and renovation at 2121 K St., which added three floors to become one of the tallest buildings in the west end of the CBD. Also, 1909 K St., went to 12 from eight stories and 2020 K St added three stories in recent years.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
