District real estate records list the property's proposed 2006 value as nearly $46 million. Originally developed in 1975, 1101 Connecticut Ave. is located on a half-acre parcel between George Washington University and the White House in the city's central business district.

The 12-story Skidmore, Owings & Merrill-designed building--which underwent extensive renovations between 1990 and 1995, and a $4-million upgrade in 2004--consists of 152,500 sf of office space, 16,800 sf of retail space, a 6,500-sf food court and 3,300 sf of storage space. Major tenants at the property include law firms Kutak Rock with 26,200 sf of space on the 10th and 11th floors and Schiff Hardin & Waite in a 15,000-sf space. Among the retail tenants are Rochester Big & Tall men's clothing store and SoHo Café. Woodmark Commercial Services had been handling the office leasing responsibilities at the property and marketed the space for $37.50 to $42.50 per sf.