Situated on a corner lot at Connecticut Avenue and K Street across from the Farragut North Metro Station, the Blake Building is a 12-story tower that was restored through a Weihe Design Group-led renovation about six years ago.

For Allen Edmonds, the deal marks the hand-crafted shoemaker's entry into the Washington, DC market. "Allen-Edmonds Shoe Corp. has been expanding into major business centers around the nation," RKF senior director Robert Draizen explains. "The men's shoe retailer located its new store within Washington, DC's bustling central business district to bring its products closer to the businessmen who make up its primary customer."

Rent at the building is in line with asking rates for such high-demand space. According to NAI Commercial Real Estate Services, retail space in Downtown DC, where the vacancy rate is at just 2%, can go for as much as $80 per-sf.