1776 K Street NW_Property for Sale
1776 K Street NW_Property for Sale
1776 K St NW, Washington, DC, 20006-2304, US

1776 K Street NW

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present the opportunity to acquire an interest in 1776 K Street (“1776 K” or the “Property”), a 198,109 BRSF office building prominently located on the corner of 18th and K Streets in the heart of the Central Business District (“CBD”) of Washington, DC. The Property is currently 97% leased and has served as the longtime home to prestigious law firm Wiley Rein, LLP (“Wiley”) (Am Law #141) for over 30 years. Once Wiley’s lease expires in June 2024, 1776 K will be poised to embark upon a full-scale redevelopment program and explore a multitude of uses – office, residential, and/or hospitality – as this trophy site is reimagined for the first time in over 50 years.


The Property’s K Street location in the heart of the Golden Triangle offers Washington, DC’s premier live-work-play environment. Just blocks from the White House and within one block of four Metrorail lines (Red, Orange, Blue, Silver) at two different stations, the Property has unmatched accessibility not only via rail and foot, but also by car given ease of access to the Capital Beltway (I-495) and the broader metropolitan region by way of Connecticut Avenue, L, and M Streets. The neighborhood is flanked by Foggy Bottom, West End, and Georgetown, in addition to millennial hotspots such as Adams Morgan and the trendy Logan Circle neighborhood with its vibrant 14th Street Corridor.


​​​​​​​This offering affords investors and developers alike the generational opportunity to acquire real estate at an attractive land basis with interim cash flow from Wiley during the proposal and design phases.

...

Attributes

Building area gross
198,109 sf
Year built
1969
Land area gross
15,857.00 acres (690,730,920 sf)

Media

Investment Highlights

  • BOUTIQUE TROPHY CORNER LOCATION
    • Existing 198,109 BRSF Corner Building Prominently Located with Prestigious K Street Address – Washington’s Power Corridor Set to Undergo a Renaissance
  • GENERATIONAL OPPORTUNITY TO ACQUIRE A BLANK CANVAS
    • Extremely Well-Located, Downtown Asset in the Heart of Washington, DC’s Live-Work-Play Environment
  • IRREPLACEABLE, TRANSITORIENTED LOCATION
    • Within Walking Distance of Four Different Lines (Red, Orange, Blue, Silver) in Addition to Vehicular Access Via Convenient City-to-Suburb Thoroughfares
  • SIGNIFICANT NEARTERM CASH FLOW COUPLED WITH IMMEDIATE UPSIDE OPTIONALITY
    • 97% Leased to Distinguished Law Firm Wiley (Am Law #141) Through June 2024 – Tenant Has Already Vacated the Premises
  • BY-RIGHT REDEVELOPMENT OPTIONALITY
    • Existing D-6 Zoning Allows for a Myriad of Execution Strategies, Including Any Combination of Office, Multifamily, Student Housing, or Hotel
  • DOWNTOWN SUPPLY PIPELINE VIRTUALLY NONEXISTENT
    • Whether Boutique Trophy Office, Luxury Multifamily, or an Altogether Different Use, the Supply Pipeline of New Construction Has Dwindled to All-Time Lows, Ensuring New Delivery Outperformance
  • RESILIENT WASHINGTON, DC MARKET FUNDAMENTALS
    • Lowest Unemployment Among Gateway Markets at 3.0% with 97% of Jobs Recovered When Compared to Pre-COVID Levels

Contact brokers

1776 K Street NW (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
8 Sep 2023