WASHINGTON, DC-William C. Smith Co. and Spaulding & Slye Colliers plan to build a 210,000-sf building with 188,000 rentable sf at 140 M St. SE, said sources at both companies.

The proposed building is the latest result of the Navy’s decision to move the Naval Sea Systems Command from Arlington to the Navy Yard in Southeast Washington, a few blocks away from the development site. The move will bring about 10,000 Navy workers and private contractor employees into the neighborhood during the next year.

Three buildings totaling more than 600,000 sf are under construction nearby at 80 M St., 300 M St. and 1201 M St., and nearly all space is pre-leased. A Philadelphia-area real estate firm, Preferred Real Estate Investments, also plans to buy and renovate a 480,000-sf building nearby at 1900 Half St. SE.

This latest project, to be called Federal Gateway, would be the first office building by William C. Smith, which owns the site. Smith normally specializes in residential construction.

The partners hope to start work in the third quarter of 2001.

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