Trip Howell, regional managing director for Jones Lang LaSalle,which represented DRI, tells GlobeSt.com that SFN stepped up to theplate as a buyer while DRI was developing the building as abuild-to-suit or build-to-lease. Trammell Crow represented SFN.Located a stone's throw from Franklin Park and several blocks fromthe White House, 1121 14th St. is an 11-story structure that wasconceived by the architectural firm of Envision Design as anenvironmentally friendly property.

"The architect had already done some work and SFN came in andmodified it and embellished it so the time to market was reduced,"Howell says. "SFN is now leasing out the balance of the building."The organization, which relocated its headquarters from nearbyDupont Circle, occupies the top three floors of the structure.

According to a 2005 report by DC's Downtown ImprovementDistrict, the development cost for 1121 14th St. was $25 million.Aegis Realty Consultants orchestrated financing through PrudentialReal Estate Investors in the amount of approximately $25 million onDRI's behalf in 2003 for the acquisition of the property anddevelopment of the building.