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Dirt Moves on $200M Spec Office

WASHINGTON, DC-Opus East is looking for new development opportunities in Southeast, now that this project and 100 M St. is well underway.

By Erika Morphy | Updated on April 30, 2008

WASHINGTON, DC-Opus East has just broken ground on one of its office developments in DC’s Southeast: 1015 Half St., a 400,000-sf, 10-story building that is being developed on spec. The $200 million project has been designed to receive at a minimum Silver LEED certification. “It is possible we might receive Gold,” Steve Cohen, VP of real estate for Opus East, tells GlobeSt.com.

Fronting on L, Half and K streets, the building will have three levels of underground parking and has the potential for first-floor retail space. No preleases have been signed yet. Opus East has chosen Cassidy & Pinkard Colliers as the broker for the building, which is expected to deliver in April 2010. The brokerage team will include Phillip Thomas Jr., Mark Sullivan and Darian LeBlanc.

Cohen reports that asking rates will be in the mid-$30s per sf, triple net. That is the rate range for its other development in the southeast: 100 M St., a 240,000-sf office building. Opus has inked a 10-year lease with Parsons Corp., securing one-third of the building, which is scheduled to deliver this fall.

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