Prime Parcel Snapped Up for $700M Capital Square Project

WASHINGTON, DC-A super-sized office compound that could ultimately be as large as 2.9 million sf is destined for the District, now that Akridge has acquired a seven-acre parcel known as Square 711 from First and M Investing Co. Leucadia National Corp. came through with the financial resources for the purchase. All parties involved are keeping mum on just how much the land cost, but the office project–to be called Capital Square–could end up costing as much as a reported $700 million to complete.

Capital Square, which will carry the address of 100 M St. in the Capitol Hill area of the District, will likely consist of a bevy of 11-story office structures with room for ground-level retail tenants. Space at the proposed development is being marketed through Cushman and Wakefield. “The parcel can yield about 2.9 million sf, but the layout likely will be two million sf,” C&W senior director of commercial brokerage Brian R. Raher tells GlobeSt.com. “The site can yield a variety of different sized buildings. They can do multiple structures from very large, to as small as 100,000 sf.”