1701 Rhode Island Ave.
WASHINGTON, DC—WeWork will be leasing the entire building at 1701 Rhode Island Ave., NW, which Akridge has delivered.
The site of a former YMCA, 1701 Rhode Island is a seven-story, 104,000-square-foot office building designed by Hickok Cole Architects.
Matt Klein, President and CEO of Akridge, said that the building generated “considerable market interest” but WeWork was committed to the full project.
Lex Miller, WeWork's Director of Business Operations, Northeast and Mid-Atlantic, said that the 1701 Rhode Island Ave. location is poised to be the city's flagship location. “WeWork will occupy all seven floors and the penthouse of the newly constructed building,” he said. The floor plan will be a mix of a standard WeWork, along with larger SKUs catering specifically to the increasing number of mid-market and enterprise members at WeWork, according to Miller. It will also include a large event space and rooftop access.
Akridge and its partner, Alcion Ventures, L.P., purchased the site in March 2016 after the Dupont Circle YMCA decided to close this location. Akridge and its team worked with the local neighborhood and Historic Preservation staff to establish the project.
Whiting-Turner Contracting Company was the general contractor. JLL's Zach Boroson, Andy O'Brien, and Greg Lubar represented WeWork, while Wil Pace, McKay Elliott, Ben Meisel, and Tim McCarty of Akridge provided landlord representation for the property. 1701 Rhode Island is targeting LEED Platinum certification.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
