Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this offering for 1750 K Street (the “Property”), a 98% leased, 165,604 RSF Class B office building located in the heart of Washington, DC’s CBD. Currently leased to four tenants, the Property is predominantly occupied by law firm Wiley Rein, LLP (87% of RBA) through June 2024, who will relocate upon expiration. The Property offers significant value creation opportunities due to its prime K Street address, while its small, flexible floorplates provide leasing optionality re-tenanting the asset with the opportunity to deliver a market-leading spec suite program. Through a transformational repositioning, investors can take advantage of the asset’s prestigious location to deliver K Street’s preeminent post-COVID offering.
The Property’s location in the heart of the Golden Triangle offers Washington, DC’s premier live-work-play environment. Just blocks from the White House and walkable to four Metrorail stations, the Property is easily accessible from a variety of transportation options due to its central location along the CBD’s main thoroughfare. Synonymous with power and prestige, K Street is home to 20 of the AmLaw’s top 100 law firms.
1750 K’s small, flexible floorplate and side-loaded core offer potential investors significant leasing optionality regarding re-tenanting of the asset. Coupled with the potential to activate the building at the street level, the Property is truly within a unique subset of downtown Washington, D.C. office. Potential investors will be the beneficiaries of the ongoing development of placemaking retail and residential, while 1750 K’s healthy contractual cash flow will offer the bridge necessary to embark upon a renovation that perfectly positions the Property for the new post-COVID work environment.
- Prestigious K Street Address – Washington’s Power Corridor is Home to 20 of the AmLaw Top 100 Law Firms
- Unparalleled Amenity Access in the Heart of the Golden Triangle’s Acclaimed Live-Work-Play Environment – International Square Redevelopment Set to Revitalize Immediate Neighborhood
- Small, Flexible Floorplates and Side-Loaded Core Conducive to Significant Leasing Optionality
- Street-Level Potential – Drive Rents Through Activation of Prime K Street-Fronting Space
- 98% Leased to 4 Tenants with 1.8 Years of WALT, Offering Investors Significant Upside Optionality Upon Rollover
- Historic Building Occupancy – 1750 K Has Maintained an Average Historical Occupancy Rate of 97% Over the Last 30 Years
- Attractive Opportunity at a Significant Discount to Replacement Cost