{"id":1004545035,"date":"2021-07-26T03:46:07","date_gmt":"2021-07-26T11:46:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004545035"},"modified":"2022-12-08T19:37:27","modified_gmt":"2022-12-09T03:37:27","slug":"200m-dc-conversion-project-kicks-off","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/","title":{"rendered":"$200M DC Conversion Project Kicks Off"},"content":{"rendered":"
\"200<\/a>

20 Massachusetts Ave. NW Image courtesy of Office Properties Income Trust<\/p><\/div>\n

The transformation of the property at 20 Massachusetts Ave. NW in Washington, D.C., from a mid-rise office building to a mixed-use tower has gotten underway. Office Properties Income Trust, owner of the asset, will invest $200 million to bring the 427,000-square-foot project to realization.<\/p>\n

\n

READ ALSO<\/strong>: NYC\u2019s 1st Spec Office Since COVID Breaks Ground<\/a><\/p>\n

\n

The current structure at 20 Mass stands seven stories and encompasses approximately 340,100, and the only hint of the Class B office building that will remain after Leo A. Daly Architects’ design takes shape will be the premier Capitol Hill location.<\/p>\n

The transit-oriented site is within close proximity to the coveted Chinatown and Penn Quarter neighborhoods and near a bevy of popular destinations. Upon completion, the new 20 Mass will have two additional floors and feature 184,000 square feet of premier office space, a 271-key Royal Sonesta Hotel and 14,000 square feet of retail accommodations.<\/p>\n

It is a project whose time has come, OPI believes. “We continue to view overall real estate fundamentals in the D.C. area favorably, supported by our larger presence in downtown,” Christopher Bilotto, president & chief operating officer with Office Properties Income Trust<\/a>, told Commercial Property Executive<\/em>.<\/p>\n

“20 Mass capitalizes on a centralized location\u2014in close proximity to Union Station, the Capitol and other landmarks\u2014that we believe is attractive to tenants and supports demand for the area.”<\/p>\n

\"200<\/a>

20 Massachusetts Ave. NW Image courtesy of Office Properties Income Trust<\/p><\/div>\n

OPI’s new mixed-use development will also encompass such offerings as a roughly 14,500-square-foot amenities penthouse, a fitness facility and a conference center. Additionally, the building, like its predecessor, will be environmentally friendly; although, the new 20 Mass will take being green to new heights with both LEED and WELL certifications. Touchless systems will also be among the building’s highlights.<\/p>\n

“We have always been focused on sustainability and features supporting well-being at our properties. The pandemic has only further strengthened this position,” Bilotto said.<\/p>\n

OPI expects to deliver the reimagined 20 Mass in early 2023. RMR Group will serve as property manager at the 10-story, glass-sheathed tower.<\/p>\n

Timing is everything<\/strong><\/h2>\n

Washington, D.C.’s office and hotel markets continue to feel the impact of the pandemic-related downturn, but the light at the end of the tunnel is visible. As noted in CBRE’s July 2021 U.S. Hotels State of the Union report, the U.S. hotel market<\/a> continues to see steady RevPAR growth, driven by increased ADR, despite sluggish occupancy levels. Global travel restrictions have been a boon for U.S. hotel demand, and record household checkable deposits along with improving consumer confidence have resulted in greater demand for leisure travel.<\/p>\n

\"200<\/a>

20 Massachusetts Ave. NW Image courtesy of Office Properties Income Trust<\/p><\/div>\n

As for the office sector, the second quarter of 2021 brought a rebound in the D.C. market after a record-low quarter, with a 62 percent quarter-over-quarter increase in leasing activity to 1.8 million square feet, according to a CBRE report. A balance in market fundamentals is in the forecast for 2022, in advance of the completion of 20 Mass. “We believe 2023 is representative of good timing for delivery following the recent economic volatility,” Bilotto concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Office Properties Income Trust has begun the transformation of 20 Massachusetts Ave. NW into a mixed-use destination. <\/p>\n","protected":false},"author":969,"featured_media":1004545055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,11,21752,21742,21747,1615],"tags":[32789,50737,44801,33461],"class_list":["post-1004545035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-midatlantic","category-mixed-use","category-latest","category-office","category-washington-dc","tag-cbre","tag-leo-a-daly","tag-office-properties-income-trust","tag-the-rmr-group"],"acf":[],"yoast_head":"\n$200M DC Conversion Project Kicks Off - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$200M DC Conversion Project Kicks Off\" \/>\n<meta property=\"og:description\" content=\"Office Properties Income Trust has begun the transformation of 20 Massachusetts Ave. NW into a mixed-use destination.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-26T11:46:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:37:27+00:00\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"$200M DC Conversion Project Kicks Off\",\"datePublished\":\"2021-07-26T11:46:07+00:00\",\"dateModified\":\"2022-12-09T03:37:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/\"},\"wordCount\":551,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg\",\"keywords\":[\"CBRE\",\"Leo A Daly\",\"Office Properties Income Trust\",\"The RMR Group\"],\"articleSection\":[\"Development\",\"Featured\",\"Mid-Atlantic\",\"Mixed Use\",\"News\",\"Office\",\"Washington D.C.\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/\",\"name\":\"$200M DC Conversion Project Kicks Off - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg\",\"datePublished\":\"2021-07-26T11:46:07+00:00\",\"dateModified\":\"2022-12-09T03:37:27+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg\",\"width\":3240,\"height\":2793,\"caption\":\"200 Massachusetts Ave. N.W. Image courtesy of Office Properties Income Trust\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/200m-dc-conversion-project-kicks-off\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"$200M DC Conversion Project Kicks Off\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/barbra-murray\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"$200M DC Conversion Project Kicks Off - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/","og_locale":"en_US","og_type":"article","og_title":"$200M DC Conversion Project Kicks Off","og_description":"Office Properties Income Trust has begun the transformation of 20 Massachusetts Ave. NW into a mixed-use destination.","og_url":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-07-26T11:46:07+00:00","article_modified_time":"2022-12-09T03:37:27+00:00","author":"Barbra Murray","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/"},"author":{"name":"Barbra Murray","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"headline":"$200M DC Conversion Project Kicks Off","datePublished":"2021-07-26T11:46:07+00:00","dateModified":"2022-12-09T03:37:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/"},"wordCount":551,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg","keywords":["CBRE","Leo A Daly","Office Properties Income Trust","The RMR Group"],"articleSection":["Development","Featured","Mid-Atlantic","Mixed Use","News","Office","Washington D.C."],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/","url":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/","name":"$200M DC Conversion Project Kicks Off - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg","datePublished":"2021-07-26T11:46:07+00:00","dateModified":"2022-12-09T03:37:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg","width":3240,"height":2793,"caption":"200 Massachusetts Ave. N.W. Image courtesy of Office Properties Income Trust"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/200m-dc-conversion-project-kicks-off\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"$200M DC Conversion Project Kicks Off"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/200-Massachusetts-Ave.-N.W.-Washington-D.C..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004545035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004545035"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004545035\/revisions"}],"predecessor-version":[{"id":1004545320,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004545035\/revisions\/1004545320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004545055"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004545035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004545035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004545035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}