X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-Acting on behalf of a commingled investment fund, ING Clarion purchased 2121 K St. NW for $67.5 million. Seller M & J Wilkow had acquired the 133,000-sf office property in July 2004 for approximately $49.8 million.

Following M&J’s acquisition, the company secured a transferable development right, which paved the way for the expansion of the five-story structure by three floors and 52,000 sf. ING Clarion plans to upgrade the property to the tune of $30 million. The renovation project, scheduled to get under way in mid-2006, will add another three floors to the structure for an increased aggregate size of 192,000 sf.

Located near George Washington University, 2121 K St. was developed nearly a quarter-century ago. It is home to the likes of the American College of Emergency Physicians, the National Association of Government Contractors and the Employee Benefit Research Institute.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.