By Keith Loria
A joint venture between Akridge and Stars Investments has started work on the redevelopment of 1101 and 1111 Sixteenth St., two Washington, D.C. buildings that will be combined to create a 100,000-square-foot, trophy office building.
“1101 Sixteenth St. will be an impressive and efficient building,” Matt Klein, Akridge’s president, said in a prepared release. “The project’s boutique size will give small- and medium-sized clients a prominent identity on one of D.C.’s most powerful streets.”
The joint venture acquired the property last year.
The redeveloped buildings, which previously served as the sites of the American Association of University Women and the American Beverage Association, respectively, will be financed by EagleBank.
1101 Sixteenth was originally constructed in 1971, and 1111 Sixteenth made its debut in 1974. The structures encompassed a respective 48,900 and 45,300 square feet.
A new look
The new 1101 Sixteenth building is designed by HOK, with a plan to balance between contemporary and classic design. It will offer desirable window lines on all four sides, efficient floor plates and a full host of modern amenities, including a fitness facility, penthouse lounge and rooftop terrace with White House views.
The property is centrally situated and close by both Farragut West and McPherson Square, offering easy access to the Red, Blue, Orange and Silver Metro lines. Additionally, it sits directly adjacent to Midtown Center, as well as dozens of restaurants, retailers and hotels.
The new building is expected to be ready in the fall of next year.
Akridge currently manages about 3.6 million square feet and has another 9 million square feet in its active pipeline, with a portfolio estimated at more than $2 billion.