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Tuesday, May 13, 2013

Rock Creek Property Group Delivers Multi-Million Dollar Redevelopment of 1100 16th Street, NW in Washington, DC

Rock Creek Property Group announced today that it has delivered its redevelopment of 1100 16th Street, NW, a 28,366-square-foot building at the corner of 16th and L Streets, NW in the heart of Washington, DC's Central Business District.

Over the past eight months, Rock Creek has transformed this former two-building private school into one four-and-a-half-story, first-class office headquarters building for us by a single owner or tenant. Located three blocks from the White House, 1100 16th Street, NW offers a number of unique features including efficiently designed space for up to 130 employees, a corner location near multiple Metro Lines (Red, Blue, Orange), excellent window line, exposed brick, multiple entrances, 10-20 foot ceiling heights, garage parking and a 1,700-square-foot rooftop deck with views of the Washington Monument.

"This is a unique opportunity within the District of Columbia," says Rock Creek Principal Gary Schlager. "The property's corner location, loft-like interior spaces, proximity to Metro and presence on such a prestigious block really differentiate it in the market. Assets like this come around very infrequently – the building truly has a hip Chinatown vibe located on a prime corner in the Central Business District."

Rock Creek's multi-million dollar base building renovation left many of the property's original elements intact, including exposed beams, joists and other historical features dating back 100 years. Final touches, including a complete overhaul of the exterior landscaping and outdoor spaces, are scheduled to be installed this month.

1100 16th Street, NW will be offered for sale or lease to a single purchaser or tenant, and Rock Creek plans to ramp up its formal marketing of the asset in the near future. "A few users have been able to preview the building thus far due to unique circumstances," says leasing and sales representative Jared Okun with Rock Creek, "but we've really held off our formal marketing until the renovations are complete in order to properly communicate the opportunity to the market. This asset is every tenant/owner's dream: a historic building that highlights the special attributes of old Washington but with modern touches."