Business & Tech
Report: No Committed Tenants on East-West Office Project
Carr Properties broke ground on an East-West Highway office building last week, despite having no tenants signed on, The Washington Post reports.
No tenants have yet signed on to an office building project that broke ground last week on East-West Highway, The Washington Post's Capital Business blog reports.
Nonetheless, developers Carr Properties have secured a loan from Wells Fargo that will cover more than half of the $100 million cost, according to the report.
Speculative office projects are rare in the Washington, DC, region, but Carr chief executive Oliver Carr III told Capital Business the space- and energy-efficient building will attract tenants who rent in older structures.
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The 220,000 square foot, nine-story office building will be LEED Platinum certified, and will also feature 13,000 square feet of ground-floor retail, below-grade parking, a fitness facility, a conference center and a 4,500 square-foot rooftop terrace.
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