1700 K St. to Move to Head of the Class

WASHINGTON, DC-The development of a new 530,000-sf class A office building in the city’s central business district has taken a big leap forward with the demolition of two class B office properties at 1700 and 1730 K St. The Clark Construction Group Inc. is on board the $50-million project in the role of general contractor for property developer Charles E. Smith Commercial Realty. Mike Tyler of Charles E. Smith tells GlobeSt.com that his company is representing the project owner, a local partnership called 1700 K Associates LLC.

A new and improved office and retail edifice will be erected with the address of 1700 K St. The two buildings currently being destroyed to make room for the project were snapped up in a sale late last year for an undisclosed figure. Prior to contact with the wrecking ball, 1700 and 1730 K St. were assessed at a 2004 value of $18.7 million and $30 million, respectively. The 12-story structure will offer 370,000 sf of office space and 18,000 sf of ground level retail space. A lobby, fitness center, and a four-level underground parking facility account for the structure’s remaining square footage.