Akridge to redevelop Sixteenth Street Properties
WASHINGTON, DC — Akridge announced purchase agreements with the American Beverage Association and the American Association of University Women that will allow it to redevelop 1101 and 1111 Sixteenth St., NW. Akridge and partner, Stars Investments, will renovate the two buildings into one, freestanding, 100,000 s/f trophy-class office building. The new property will include a fitness center, rooftop terrace, and ample parking. “The success of our recent redevelopment at 1200 Seventeenth Street has demonstrated the strong demand for high quality and efficient office space. We believe redeveloping 1101 and 1111 Sixteenth Street into a freestanding, trophy office building will respond to the demand for quality product,” said Matt Klein, president of Akridge.” The Cushman & Wakefield team of Eric Berkman, Steve Gichner, and John Boland brokered the transaction on behalf of the American Beverage Association and the American Association of University Women. The new 1101 Sixteenth St. building will deliver in 2017.