Full Renovation of Nearly Vacant Class A Asset Creates Substantial Increase in Net Value
600 Thirteenth is a prominent, Class A office building located three blocks from the White House, with easy access to public transportation. Comprising half a city block, the 1997 vintage building was primarily leased to a large law firm and restaurant. In 2012, the law firm and restaurant vacated, leaving the building largely unoccupied. Most of the building’s common areas were obsolete and outdated.
- LocationWashington DC
- Size236,940 SF
- Investment strategyCore
- Acquisition date2012
We realized that a significant redevelopment of the lobby and creation of tenant amenities was needed to regain a competitive edge in the top-tier Class A market. We combined redevelopment with a creative marketing and brand strategy to reintroduce 600 Thirteenth to the market after being fully occupied for 15 years. A redesigned building entry and lobby to an open and bright concept would change the market’s perception of the building and justify having the highest rents among the existing stock of Class A buildings. A new roof terrace and fitness center would meet market demand for high-end amenities.
The redevelopment, marketing campaign, and leasing effort resulted in preleasing nearly all the office space to prominent, credit tenants by the time the renovations were complete. We also attracted an upscale steakhouse, doubling the size of the former restaurant space by utilizing a challenging below-grade concourse.