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PaineWebber Leases Top Two Floors of Investment Building

WASHINGTON-Financial services firm takes 51,000 sf at redevelopment project, cutting space available in tight local market.

By Mike Cleary | Updated on September 01, 2000

PaineWebber has signed for 51,057 sf in the Investment Building, a redevelopment project at 15th and K streets NW. The financial services company will occupy the top two floors of the 12-story structure, say officials at the Kaempfer Co., a Washington development firm. A new building is being raised behind the Investment Building’s original façade, which dates back to 1924.

The 375,000-sf project, estimated to cost up to $120 million, is scheduled for completion in August 2001. The law firm Sidley & Austin will occupy more than half the building.

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