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December 15, 2020 Comments Off on JV to Redevelop 400K-SF Office Building in D.C.’s Penn Quarter Views: 330 D.C. News, Top Washington, D.C., Washington, D.C. News

JV to Redevelop 400K-SF Office Building in D.C.’s Penn Quarter

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Stonebridge and joint venture partner Rockefeller Group have announced plans to redevelop the Jackson Graham Building, a 400,000-square-foot office property in Washington, D.C.’s Penn Quarter district. The total cost of the redevelopment is expected to exceed $300 million.

Currently, the building, which is located at 600 Fifth St. NW, serves as the headquarters for the Washington Metropolitan Area Transit Authority (WMATA). The development team plans to break ground on the project in 2023, allowing WMATA to remain at the site through 2022. Upon completing the redevelopment, WMATA will not return to the space but will continue to own the land, which Stonebridge and Rockefeller will control on a 99-year ground lease.

Plans for the redeveloped office building include a rooftop deck, modern office space, ground-floor retail and a penthouse conference center.

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