Skanska Sells Office Asset in DC’s Capitol Riverfront

WASHINGTON DC – Skanska has announced the sale of the 11-story, class-A office development, 99M, in Washington DC, to an affiliate of Polinger Development Company.

The 234,000-square-foot, LEED Gold certified building features numerous amenities, such as a 4,750-square-foot rooftop terrace, a 4,300-square-foot fitness facility, a secure bicycle storage room and customizable workspaces. The asset additionally boasts more than 10,000 square feet of ground-floor retail; hosting tenants such as Bluestone Lane Coffee, El Bebe, Circa and Wells Fargo.

Located in the city’s Capitol Riverfront neighborhood, near Audi Field, the property is situated between the Navy-Yard-Ballpark Metro Station access points and is surrounded public spaces such as The Yards Park and Canal Park.

Within the past year, Skanska signed new office leases at the building with CommonGrounds Workplace, the Organization for International Investment (OFII), GiveCampus and GrayRobinson. The building is currently 93% leased to a diverse mix of companies, with additional office tenants representing the financial, lobbying and international development industries.

Newmark Knight Frank’s executive managing directors, Jud Ryan and James Cassidy represented Skanska in the sale.

An active developer within the region, this disposition serves as Skanska’s latest transaction within Washington DC. The firm’s additional current developments include The Heming, a 410-unit luxury multifamily development in Tysons, VA; 1700M, a ground-up, office development on a 34,000-square foot land parcel in Washington DC’s central business district; and 3901 North Fairfax Drive, a 201,000-square-foot office building development with 10,280 square-feet of ground-floor retail in Arlington, VA.

A global development and construction company, Skanska’s US operations, headquartered in New York City, include construction, civil infrastructure and self-financed commercial property developments.