Boston Properties to Erect 170,000-SF Building on Capitol Hill

WASHINGTON, DC-The details are still sketchy but Boston Properties has confirmed that it will put up a new office building at 20 F St. in the District’s Capitol Hill area. As noted in the Boston, MA-based REIT’s recent 3rd quarter results, “the company acquired a ½-acre site located in the Capitol Hill submarket of Washington, DC. The site is expected to support development of 170,000 sf of office space.” Little else is said, but Boston Properties senior VP Jon Kaylor verifies the company’s plans, which are still in the beginning stages.

Cassidy & Pinkard has been tapped to take control of marketing efforts for the proposed property. As for interest in the project, Kaylor explains that Boston Properties officials “really have not set Cassidy & Pinkard loose to start go out and marketing, so it’s too premature to get feedback.” But Washington’s CBD is very tight–5.5% vacancy rate, according to Advantis/GVA’s 3rd Quarter 2002 Office Report–and new office space in the very compact Capitol Hill area is hard to come by, so it is unlikely that there will be a problem getting a big lease commitment before beginning construction.