Skanska USA Commercial Development made another big announcement this month with plans for a spec office development in Washington, DC with estimated total development costs of $116 million. The 11-story, 234,000-square foot building on the Riverfront at 99 M Street SE is being designed by Gensler to Gold LEED standards and will include 11,000 square feet of retail, plus an extensive green roof which allows for filtration and storage of storm water. Skanska expects the building to be delivered Q1 2017.
Skanska Executive Vice President Rob Ward said he is bullish on demand for office space in the Navy Yard area and believes 99 M will have plenty of selling points for both potential office and retail tenants. "We think it's a great time to build this building, actually, and there's a handful of things that come to mind that tell me it's a great time to go ahead," Ward said. "We have a great location. We're at the corner of First and M, I would argue that's the corner of Main and Main in this market."
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