NASPA Purchase at 111 K Street
Washington, D.C., May 5, 2010 – J Street Development announced this week that the Student Affairs Administrators in Higher Education (NASPA) purchased the 10th floor of 111 K Street, NE, the company’s jewel box office condominium building that delivered in February. NASPA comes to NoMa (the area north of Massachusetts Avenue) from their Dupont Circle office of 20 years, citing ownership, sustainable features in the building, and a walkable location near Union Station.
111 K Street is an 11-story, approximately 90,000 square foot, Class A office condominium just north of Capitol Hill in the NoMa submarket of downtown Washington, DC. The sleek Gensler-designed building features significant sustainable components, including a striking rooftop terrace that also serves as an element of the stormwater management plan, an energy-efficient building system and locally sourced and recycled building materials, 9-foot ceilings, shared conference facilities, underground garage parking, a landscaped roof terrace and views to the U.S. Capitol.
111 K offers one of the rare opportunities for Class A condominium ownership in Washington.
Bruce Pascal, Mark Klug and Doug Mueller of CBRE represented the owner, and Bill Meyer of The Meyer Group, Ltd., represented the tenant.
NoMa is a mixed-use neighborhood north of Massachusetts Avenue and the U.S. Capitol in Washington, D.C. Between 2007-2009, private developers have invested more than $1.5 billion in the 35-block area covered by the NoMa BID, and have plans to develop more than 20 million square feet of office, residential, hotel, and retail space over the next 15 years. For more information about the BID, including an interactive development map, visit the BID Web site at http://nomabid.wpengine.com.