Skanska Invests $216M for Development of Office Project in Downtown Washington, D.C.
WASHINGTON, D.C. — Swedish developer Skanska is investing $216 million in U.S. dollars for the development of 17xM, an 11-story office project in the central business district of Washington, D.C.
Located at the intersection of 17th and M streets, the building will span 334,000 square feet. Construction is scheduled to begin this fall with completion slated for 2024.
More than 50 percent of the project is pre-leased. Global law firm Gibson, Dunn & Crutcher LLP has signed a 16-year lease at the property.
Skanska is pursuing LEED Gold and Fitwel certifications for the building. Currently, 17xM is the first WiredScore SmartScore-certified office building in North America, according to the developer. The certification assesses a smart building for both its user functionality and technological foundation.
Plans call for MERV-13 air filtration, air quality censors, touchless access and other sustainable and wellness-focused features. MERV refers to minimum efficiency reporting value, which measures how effectively a filter stops dust and other contaminants from passing through the filter and into the air.
Amenities will include a covered drop-off area, lobby attendant, rooftop conference area, rooftop lounge, 5,500-square-foot fitness center, bicycle room and outdoor terraces.
Kohn Pedersen Fox Associates is the project architect. CBRE is handling leasing of the office portion, while local firm Dochter & Alexander Retail Advisors is the leasing agent for the retail portion. Arup provided multidisciplinary services for the project, including IT and communications, sustainability, structural, mechanical, electrical, public health, fire, acoustics and vibration consulting.
Since 2009, Skanska has invested more than $3.2 billion in commercial and multifamily projects across select U.S. markets.
— Kristin Hiller