Columbia Property Trust Launches Vertical Expansion Project
The firm is set to begin construction on a 105,000 SF development atop a DC building; serving as the city’s first commercial office property to utilize mass timber construction.
WASHINGTON DC – Columbia Property Trust Inc. has launched a 105,000-square-foot vertical expansion at the class-A office property, 80 M Street in Washington DC.
The firm will soon begin construction on top of the existing 286,000-square-foot building; adding two new floors and a habitable penthouse to the property.
Located in the city’s Capitol Riverfront District, the space will feature 16-foot ceiling heights, 12-foot-high windows, exposed ceilings, polished concrete floors and an additional 4,000 square feet of outdoor amenity space atop the building. The property recently implemented improvements to its main lobby and common areas.
More than half of the new space has been pre-leased to American Trucking Associations as its new headquarters. The national trade association has signed a 16-year lease, encompassing 60,000 square feet at the property, and will occupy the space starting in the summer of 2022.
The project serves as Washington DC’s first commercial office building to feature environmentally-friendly mass timber construction. The building technique relies on a composite wood product that is engineered from hard wood, grown in the Pacific Northwest region of the US. The method is recognized for offering structural integrity and fire resistance, as well as a lower overall weight load and lower carbon footprint when compared to steel and concrete.
Columbia Property Trust is working with architect Hickok Cole to design the space.
Post expansion, the property will comprise a total 391,000 square feet. Following the project’s completion, the building will be 76% leased overall.
Columbia Property Trust is an owner, operator and developer of class-A office buildings in high-barrier US office markets. The company offer services in transactions, asset management, repositioning, leasing and property management. The company currently handles a portfolio of 17 properties, representing seven million rentable square feet, as well as two properties currently under development.