Beacon completes first phase of a $20 million capital improvement campaign
Washington, DC — Beacon Capital Partners, a leading office investor and manager, announced it has completed the first phase of a $20 million capital improvement campaign at Terrell Place, a trophy property in Washington, DC that anchors the corner of 7th and F Streets Northwest in the heart of Penn Quarter. Terrell Place is a 476,000 s/f office and retail complex. The property is comprised of three connected components: the historic former Hecht’s Department Store, where Mary Church Terrell led a successful protest regarding its segregated dining policy in 1950; a nine-story South Wing, incorporating four historic facades; and a connected 11-story office tower fronting F Street. The project consists of 441,000 s/f of trophy office space and 35,000 s/f of retail space. With this first phase of the renovation, new street-facing retail has been integrated into the F Street lobby providing activated collaboration areas for tenants and guests. Additionally, the Hecht’s tower lobby and the gallery corridor with its 11-story naturally-lit atrium, has all been architecturally enhanced to encourage gathering and stimulate co-working.
Extending throughout the main level shared spaces is the transformative installation of motion-activated media displays created by ESI Design. The large-scale, reactive media on lobby walls and corridor portals create a better sense of connectivity in the first floor space. The diffused LED wall displays are activated by passersby via an infrared camera system. Three content modes – Seasons, Color Play and Cityscape – offer a selection of scenes which can be programmed with varying durations and sequences, ensuring tenants never see the same scene even if they arrive and leave at the same time every day. ESI also redesigned the Mary Church Terrell Memorial, showcasing Terrell Place’s status as a designated stop on the city’s “Civil War to Civil Rights” heritage trail. The tribute to the building’s namesake features a prominent exterior marker and main lobby placard that both provide historic context and photos of the famous protest at Hecht’s Department Store. “Beacon focuses on creating and adding value to premier office spaces, while celebrating what makes each property iconic,” said Jeffrey Kovach, Beacon Capital Partners Managing Director. “We are dedicated to providing trophy office tenants with the state-of-the-art infrastructure and amenities they require as well as visual interest and distinct design they can be proud of.” Existing amenities at Terrell Place include a rooftop terrace and fitness center, as well as a corporate concierge, 24-hour manned security, onsite property management, and ample, below-grade parking accessible from F and E Streets. Terrell Place’s street level retail space is anchored by well-known Rosa Mexicano and popular Compass Coffee. “Terrell Place truly embraces the energy of the vibrant Penn Quarter neighborhood which includes a multitude of dining options, events at the Verizon Center and nearby attractions including the International Spy Museum, National Art and Portrait Galleries for tenants as well as millions of other office workers, residents and visitors,” said Trip Howell, International Director, JLL, who represents Beacon Capital on the office leasing at Terrell Place. The second phase of the capital improvement program will occur in 2017. It will feature an expanded and enhanced roof terrace with a 150-person conference center and a coffee/wine bar, a state-of-the art fitness center, and a tenant amenity lounge. The property is also on track to be Certified Gold WiredScore, a rating system that measures internet connectivity, infrastructure and readiness to upgrade. Terrell Place underscores Beacon’s commitment to sustainability and its environmentally responsible approach to building ownership. Terrell Place is LEED Platinum Certified, Energy Star rated and designated by the BOMA 360 Performance Program. Energy efficient upgrades improve building operations and reduce expenses. This includes plumbing retrofits to reduce water consumption, an onsite recycling program that diverts more than 45% of building waste from landfill, energy efficient lighting retrofits in common areas and a progressive green cleaning program. Beacon has also initiated The Best Bees Program at Terrell Place and most of its buildings to maintain rooftop beehives.