416,000-SF One Metro Center To Hit the Market

WASHINGTON, DC-One Metro Center, a trophy property located at a bustling Metro station in the city’s East End area, will soon hit the market. Property owner Tishman Speyer, which developed the Skidmore Owings & Merrill-designed structure for about $140 million in 2003, will likely see an enormous profit from a sale; the word on the street among market insiders is the building could command anywhere from $575 to $650 per sf.

Located just three blocks from the White House and the US Department of the Treasury, One Metro Center climbs 12 stories high, with a Hecht’s department store occupying the first few levels and the offices beginning on the seventh floor. The class A property is home to a stellar list of tenants, including law firm White & Case LLP, which committed to 118,000 sf under a 15-year lease. Other occupants include global communication consultancy company APCO Worldwide Inc., having signed on for 62,000 sf in October, and law firm and lobbying concern Manatt, Phelps & Phillips, which relocated to a 25,500-sf space in the building last year.